The Futures
of Crude oil closed low in the domestic market on Monday as an increase in the
number of rigs actively drilling for oil in the U.S. and soaring crude output
from prime producers pushed prices in to low levels.
Ahead
this week, the market will eye for the weekly U.S. crude inventories &
production data to be released on Wednesday. China will also release its
monthly crude production & throughput data on the same day.
At the
MCX, crude oil futures for October 2016 contract closed at Rs 3327 per barrel,
downward by 0.36 per cent, after opening at Rs 3356, against a last close of Rs
3339. It touched the intra-day lower of Rs 3306.
Read More- Crude Oil Updates
