Crude oil futures decreased lower in the domestic market on Friday after data showed the number of U.S. oil rigs rose for a sixth successive week.
Prices started moving lower as the upbeat jobs report boosted the U.S. dollar to one-week highs against most of its major complements. Oil prices typically weaken when the U.S. currency strengthens as the dollar-priced commodity becomes more valuable for holders of other currencies.
At the MCX, Crude oil futures for August 2016 contract closed at Rs. 2784/ barrel, fall by 0.93 %, after opening at Rs. 2805, against the previous closing price of Rs. 2810. It affected the intra-day low of Rs. 2755.