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Crude oil futures closed lower in the domestic market on Monday as traders fretted over signs that U.S. production is set to grow—potentially offsetting efforts by other major crude producers to ease global supplies. Oil prices also fell as uncertainty over U.S. policy weighed on markets, following President Trump’s curbs on immigration that have met with fierce opposition world-wide At the MCX, crude oil futures for February 2016 contract closed at Rs 3582 per barrel, down by 0.72 per cent, after opening at Rs 3619, against a previous close of Rs 3608. It touched the intra-day low of Rs 3565.
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Crude oil futures closed lower in the domestic market on Monday as traders fretted over signs that U.S. production is set to grow—potentially offsetting efforts by other major crude producers to ease global supplies. Oil prices also fell as uncertainty over U.S. policy weighed on markets, following President Trump’s curbs on immigration that have met with fierce opposition world-wide At the MCX, crude oil futures for February 2016 contract closed at Rs 3582 per barrel, down by 0.72 per cent, after opening at Rs 3619, against a previous close of Rs 3608. It touched the intra-day low of Rs 3565.
