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Crude oil futures trade higher on firm trend overseas
Jun-13-2019

Crude oil futures traded higher on MCX as speculators enlarged their position tracking firm trend at overseas markets despite bearish crude inventories data. The Energy Information Administration (EIA) said in its regular weekly report on Wednesday that crude oil inventories increased by 2.21 million barrels in the week to June 7. That was compared to forecasts for a stockpile draw of 0.48 million barrels after a surge of 6.77 million barrels in the previous week.

The contract for June delivery was trading at Rs 3642.00, up by 1.28% or Rs 46.00 from its previous closing of Rs 3596.00. The open interest of the contract stood at 18199 lots.

The contract for July delivery was trading at Rs 3673.00, up by 1.1% or Rs 40.00 from its previous closing of Rs 3633.00. The open interest of the contract stood at 2801 lots on MCX.

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