For Quick Alerts
For Daily Alerts

No relief yet for Oil as prices continue falling

By Religare

Crude oil futures were trading lower during evening trade in the domestic market on Thursday as investors and speculators continued to exit risky bets in the energy commodity as fears over a supply glut soured sentiment.

Despite a bigger than expected decline of 3.5 million barrels in US crude oil stockpiles last week, traders remained wary amidst a 5 million barrel spike in inventory of US distillates, which include heating oil and diesel fuel, and total storage staying near the highest level unseen for this time of the year at least in the past 80 years.


At the MCX, Crude oil futures, for the December 2015 contract, is trading at Rs 2,491 per barrel, down by 0.20 per cent, after opening at 2,511, against the previous close price of Rs 2,496. It touched an intraday low of Rs 2,478. (At 15:25 PM).

Story first published: Thursday, December 10, 2015, 23:00 [IST]
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more