Crude Oil prices ended lower in the domestic market on Friday in the midst of continuing fears of a glut of oversupply on the global energy markets. Oil services firm Baker Hughes said in its weekly rig count on Friday that US oil rigs last week declined by 7 to 638. A week before, the count edged up by 5 to 645, marking the second successive week of weekly builds. Further, US UoM consumer sentiment fell unexpectedly last month signaling weak sentiment in the region which reduced the demand outlook for the fuel. In a report, the University of Michigan said that consumer sentiment fell to a seasonally adjusted 93.3, from 96.1 in the preceding month. At the MCX, Crude oil futures, for the 07 / 2015 contract, closed at Rs 3,208 per barrel, down by 1.44 per cent, after opening at Rs 3,250, against the previous close price of Rs 3,255. It touched an intraday low of Rs 3,187.
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