Oil prices rose on Wednesday, lifted by a fall in U.S. crude inventories and concerns that tensions in the Middle East could disrupt supplies.
Brent crude futures, the international benchmark for oil prices, were at $58.27 at 0314 GMT, up 39 cents, or 0.7 percent from their last close - and a third above mid-year levels.
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U.S. West Texas Intermediate (WTI) crude futures were at $52.13 per barrel, up 25 cents, or 0.5 %, and almost a quarter above mid-June levels.
U.S. crude inventories fell by 7.1 million barrels in the week to Oct. 13 to 461.4 million barrels, the American Petroleum Institute (API) said late on Tuesday.
Trading Ideas
- Crudeoil trading range for the day is 3293-3423.
- Crude oil prices pared its gains as expectations of a ramp up in U.S. production weighed on sentiment.
- U.S. crude inventories fell by 7.1 million barrels in the week to Oct. 13 to 461.4 million barrels, the American Petroleum Institute (API) said.
JM Financial expects Jio to swing to profits in Q3, driven by the 57 percent interconnection usage charge (IUC) cut to 6 paise per minute from 14 paise, effective October 1.
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Crude Oil updates as on October 2017, Crude Oil November futures up were higher by (0.39%) and closed at 3372. While when we talk about precious metal Gold prices declined by (-125) points and trading range is between 29535 to 29637.
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