Friday, June 10, 2016

Commodity Tips: Oil prices fall as dollar rebound Tips: Crude oil futures were trading lower during the afternoon trade in the domestic market on Friday as a stronger dollar weighed on commodity prices.

The fall in crude oil cost were in line with a sell-off on equities markets from Asia to the US fueled by worries about the state of the global economy.

The greenback was boosted by better than expected US unemployment no., making oil more expensive and dampening demand.

At the MCX, Crude oil futures for June 2016 contract is trading at Rs 3,356 per barrel, down by 0.50%, after opening at Rs 3,372, against the previous closing price of Rs 3,373. It touched the intra-day low of Rs 3,348.