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Crude oil futures edge lower on doubts over supply cuts
Jan-11-2017

Crude oil futures edged lower on MCX as investors and speculators exited their positions in the energy commodity as doubts over supply cuts to curb global glut lingered. However, a small supply cut by the world's top oil exporter Saudi Arabia, capped further losses in crude oil prices at futures trade.

The contract for January delivery was trading at Rs 3489.00, down by 0.68% or Rs 24.00 from its previous closing of Rs 3513.00. The open interest of the contract stood at 16592 lots.

The contract for February delivery was trading at Rs 3561.00, down by 0.61% or Rs 22.00 from its previous closing of Rs 3583.00. The open interest of the contract stood at 1734 lots on MCX.

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