Free MCX Tips | Crude oil prices rose by 0.91% on Thursday as overseas oversupply and the wide-ranging geopolitical ramifications of the downing of a Russian jet by Turkey still in focus. At the MCX, crude oil futures for November 2015 contract were trading at Rs. 2,886 per barrel, up by 0.91 per cent, after opening at Rs. 2,870 against the previous closing price of Rs. 2,860. It touched the intra-day high of Rs. 2,892 till the trading. (At 11.27 AM today).
However, gains were curbed after the US Energy Information Administration (EIA) said that US commercial crude inventories rose by 1.0 million barrels for the week ending on November. 20, slightly below expectations of a 1.1 million barrel build indicating that the demand for the commodity in US is weak.
However, gains were curbed after the US Energy Information Administration (EIA) said that US commercial crude inventories rose by 1.0 million barrels for the week ending on November. 20, slightly below expectations of a 1.1 million barrel build indicating that the demand for the commodity in US is weak.
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