Crude oil dips following EIA report 16/02/2017 08:40

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Crude oil futures closed lower in the domestic market on Wednesday following the release of the Energy Information Administration's weekly oil supply and demand data. The agency reported domestic crude oil supply spiked 9.5 million bbl during the week-ended Feb. 10 more than twice the expected increase of 4 million bbl and close to the API's reported 9.9 million bbl crude stock increase. At the MCX, crude oil futures for February 2016 contract closed at Rs 3552 per barrel, down by 0.36 per cent, after opening at Rs 3565, against a previous close of Rs 3565. It touched the intra-day low of Rs 3530.