The Commerce Department yesterday reported that gross domestic product in the U.S. grew at a 1.8% annual rate in the first quarter, less than the 2.2% forecasted figure.
At the MCX, crude oil future for June contract closed at Rs. 4,562.00 per barrel, down by 0.86%, after opening at Rs. 4,595.00 against the previous closing price of Rs. 4,602.00. It touched the intra-day low of Rs. 4,526.00 with a business volume of 165,522 lots.
Crude oil for July contract, at the NYMEX, closed at US$100.23 per barrel, down by $1.09, after opening at US$101.24 against the previous closing price of US$101.32. It touched the intra-day low of US$99.62 with a business volume of 354,880 lots.