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Crude oil Gains on US output Decline, Gasoline Drawdown

Discussion in 'Stock Market Discussions' started by Harish, Oct 16, 2015.

  1. Harish

    Harish New Member

    Sep 30, 2015
    Likes Received:
    Crude oil prices rose by 2.28 per cent on Friday as investors bet falling US production would cut a global surplus, while the country's gasoline and distillate inventories dropped more than expected. US shale production is expected to fall the most on record in November, extending a nationwide decline in output for a seventh consecutive month, according to a forecast from the US Energy Information Administration this week. At the MCX, crude oil futures for October 2015 contract were trading at Rs. 3,054 per barrel, up by 2.28 per cent, after opening at Rs. 3,008 against the previous closing price of Rs. 3,054. It touched the intra-day high of Rs. 3,059 till the trading.

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