Tuesday, June 14, 2016

Commodity Tips: Oil slips 0.76% on Brexit worries

Commodity Tips: Crude oil futures were trading lower during the noon trade in the domestic market on Tuesday mirroring a sell-off across fellow Indian peers on speculation about a pick-up in production while global worries over Britain's possible exit from EU.

The fall in crude oil cost were in line with a sell-off on equities markets from Asia to the Americas on worries about the universal economy, Britain's future in the European Union and producers bringing more rigs back online.

At the MCX, Crude oil futures for June 2016 agreement is trading at Rs 3,250 per barrel, down by 0.76 per cent, after opening at Rs 3,251, against the last closing price of Rs 3,275. It touched the intra-day low of Rs 3,245