Golden Investment Research Private Limited
Crude oil prices fall by 0.13%
Date : 06.02.2012
Crude Oil prices fell on Monday on concern that Greece's steps to avert a financial collapse may fall short, threatening Europe's economy and demand for fuel. At the MCX, crude oil futures for February 2012 contract were trading at Rs. 4,761 per barrel, down by 0.13%, after opening at Rs. 4,765 against the previous closing price of Rs. 4,767. It touched the intra-day low of Rs. 4,758 till the trading.
On Saturday, prices rose due to the strong U.S. jobs data, which fueled hopes that the world's largest economy is picking up pace of its recovery.
Sentiment had improved further as new claims for unemployment benefits in the United States fell more than expected. Initial unemployment claims decreased by 12,000 to 367,000 in the week ended Jan. 28, the Labor Department said.
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