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Crude Oil Updates - Crude Oil Gains Due to Drop in US rig count .

Discussion in 'Stock Market Discussions' started by ritugautam, Apr 22, 2016.

  1. ritugautam

    ritugautam New Member

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    Crude oil prices rose by 0.79 per cent on Friday due to the drop in US rig count from Baker Hughes. The rise is also supported by lower than expected stockpiles of crude oil build last week as stated by the U.S. Energy Information Administration (EIA).
    At the MCX, crude oil futures for May 2016 contract were trading at Rs. 2,926 per barrel, up by 0.79 per cent, after opening at Rs. 2,921 against the previous closing price of Rs. 2,903. It touched the intra-day high of Rs. 2,930 till the trading.

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