Crude Oil prices fell by 0.61 percent on Thursday at the domestic markets after U.S. crude oil inventories rose more-than-expected last month indicating that the demand for the commodity in US, world’s largest consumer of crude oil is weak. In a report, Energy Information Administration said that U.S. Crude Oil Inventories rose to a seasonally adjusted annual rate of 8.874M, from 10.071M in the preceding month. At the MCX, crude oil futures for February 2015 contract were trading at Rs. 2,755 per barrel, down by 0.61 percent, after opening at Rs. 2,759 against the previous closing price of Rs. 2,772. It touched the intra-day low of Rs. 2,749 till the trading.
Copper At the MCX Copper futures for February 2015 contract were trading at Rs.335.25 per 1 kg, down by 0.74 percent, after opening at Rs. 337.35 against the previous closing price of Rs. 337.75. It touched the intra-day low of Rs. 334.95 till the trading. Copper prices fell by 0.74 percent on Thursday at the domestic markets after Japanese retail sales fell unexpectedly last month signaling weak sentiment in the region which reduced the demand outlook for the metal. In a report, the Ministry of Economy Trade and Industry said that retail sales fell to a seasonally adjusted annual rate of 0.2 percent, from 0.4 percent in the preceding month.
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