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Crude Oil Updates for 15 Sept 2016

Crude Oil Updates for 15 Sept 2016

Crude oil futures were trading lower in the domestic market on Thursday as investors & speculators closed positions in the energy commodity as data showing large weekly builds in the US petroleum products offset a surprise draw in crude stockpiles.

The US Energy Information Administration reported that crude inventories dropped 559,000 barrels during the week closed Sept 09 while analysts expected a build of 3.8 million barrels.

At the MCX, crude oil futures for September 2016 contract is trading at Rs 2,934/barrel, downward by 0.14%, after opening at Rs 2,940, against a last ending of Rs 2,938. It touched the intra-day low of Rs 2,932.

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