Crude oil rises on fall in US crude supplies
14/06/2018 07:33
Crude oil futures closed higher in the domestic market on Wednesday after a U.S. government report revealed a bigger-than-expected decline in domestic crude supplies, which was the largest one-week drop since the end of March.

Price gains for oil, however, were limited as the Energy Information Administration report Wednesday also showed a sizable weekly climb in total U.S. crude production and recent data offered evidence of a pickup in output from the Organization of the Petroleum Exporting Countries.

At the MCX, crude oil futures for June 2018 contract closed at Rs 4500 per barrel, up by 0.49 per cent, after opening at Rs 4469, against a previous close of Rs 4478. It touched the intra-day high of Rs 4518.