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As on: Sep 22, 2019 09:51 PM
Weak INR Pushes MCX Crude Above Rs 4400 Per Barrel
13-May-19   17:50 Hrs IST
WTI Crude stayed broadly supported, gaining on bargain buying even as equities fell across the globe on heightened trade war fears. The counter currently trades at $62.35 per barrel, up 1.14% on the day. MCX Crude oil currently trades at Rs 4402 per barrel, up 1.76% as a slide in Indian Rupee pushed up the futures further. Indian Rupee tested 11-week low against US dollar. Rupee ended at 70.53 a dollar - down 0.37% from its previous close of 69.91. Meanwhile, the US drilling rig count dropped 2 units to reach 988 rigs working for the week ended May 10, according to Baker Hughes data. The count is down 57 units from the 1,045 rigs working this time a year ago.

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