SEBI Registration NO.---- INA000001530 Investment in stock and commodity market are subject to market risk. Please do not trade on those tips which are not provided through SMS or messenger.

Crude Oil dips on doubts of Crude Production Freeze

Crude Oil dips on doubts of Crude Production Freeze

Crude oil futures ended lower in the domestic market on Thursday as doubts over the potential for a crude-production freeze persisted and data showing a contraction in the U.S. manufacturing activity contributed to expectations of weaker energy demand. Analysts said solid growth in U.S. job market would give the federal government more reasons to raise interest rates. Higher rates tend to strengthen the dollar which will add downward pressure on commodities prices traded in the greenback. At the MCX, Crude oil futures for September 2016 contract ended at Rs. 2908/barrel, downward by 3.16 %, after opening at Rs. 3004, against the last closing price of Rs. 3003. It touched the intra-day low of Rs. 2904.

2
 
error: Content is protected !!