Crude oil dips on rising US crude stockpile in market

 

Crude oil futures closed lower in the domestic market on Wednesday as U.S. government data showed crude stockpiles at a record, but a larger-than-expected decline in gasoline inventories capped losses.

Expectations of higher demand for gasoline during the summer driving season helped to lead oil prices back from their November lows.

At the MCX, crude oil futures for April 2016 contract closed at Rs 3168 per barrel, down by 0.00 per cent, after opening at Rs 3166, against a previous close of Rs 3168. It touched the intra-day low of Rs 3104.

 

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Mentha oil futures little changed as demand picks up

 

Mentha oil futures were little changed during morning trade in the domestic market on Tuesday as investors and speculators indulged in building up fresh bets in the agri-commodity amid rise in physical demand for mentha oil from major consuming industries in the domestic spot market. Further, widening of positions by traders in the spot market was led by an increase in physical demand for mentha oil from consuming industries at the domestic spot market against insufficient stocks position on restricted supplies from producing regions, supported mentha oil prices at futures trade.

At the MCX, mentha oil futures for March 2017 contract is trading at Rs 995.20 per kg, up by 0.09 per cent, after opening at Rs 994.90, against the previous closing price of Rs 994.30. It touched the intra-day high of Rs 998.
 

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Today Gold dips on fed rate hike expectation in market

 

Gold futures closed lower in the domestic market on Tuesday ahead of a widely-expected Federal Reserve interest-rate hike this week.

Expectations for the increase have already rallied the dollar and depressed metals prices, which suffered from a nine-session decline to their lowest level since late January, before Monday’s modest rise.

At the MCX, gold futures for April 2017 contract ended at Rs 28085 per 10 grams, down by 0.59 per cent, after opening at Rs 28,250 against a previous close of Rs 28,251. It touched the intra-day low of Rs 28,055.

 

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