FREE MCX TIPS | Crude oil prices rose by 0.04% on Friday after the Conference Board leading economic index for the US rose more-than-expected previous month signaling improving sentiment in the region which raised the demand outlook for the fuel. In a report, The Conference Board Inc. said that US CB Leading Index rose to a seasonally adjusted annual rate of 0.4 per cent, from 0.6 per cent in the preceding month. At the MCX, crude oil futures for December 2015 contract were trading at Rs. 2,316 per barrel, up by 0.04 per cent, after opening at Rs. 2,308 against the previous closing price of Rs. 2,315. It touched the intra-day high of Rs. 2,320 till the trading. (At 12.14 PM today).
Prices also rose after the number of Americans filing for unemployment benefits previous week fell from a five-month high, suggesting sustained labor market healing that could lead to further Fed Reserve interest rate hikes next year. Initial claims for state unemployment benefits shifted dawn 11,000 to a seasonally adjusted 271,000 for the week ended Dec.12, the Labor Department said.
Prices also rose after the number of Americans filing for unemployment benefits previous week fell from a five-month high, suggesting sustained labor market healing that could lead to further Fed Reserve interest rate hikes next year. Initial claims for state unemployment benefits shifted dawn 11,000 to a seasonally adjusted 271,000 for the week ended Dec.12, the Labor Department said.
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