Crude Oil Futures increased to Rs.3839 per barrel, the prices have gained 0.74% on MCX. The increased in the prices of Crude oil has helped to reverse the earlier losses and has significantly recovered.
The crude oil rigs drilling in the US has increased from 12 to 287 rigs which has been recorded highest since May 2020.
Libya’s output has dropped by 200,000 barrels a day after it reported closure of pipeline due to leakage.
Meanwhile, West Texas Intermediate crude was trading flat at $52.42 per barrel and Brent crude saw a decline of 0.15% and fell to $55.02 per barrel.
MCX iCOMDEX Index saw gain of 14.77 point or 0.34% i.e., 4381.64.