Comments
Crude oil rose 0.66 per cent to Rs 3,351 per barrel in futures market today as speculators widened their bets, taking positive cues from the Asian markets.
At the Multi Commodity Exchange, crude oil for delivery in June was trading higher by Rs 22, or 0.66 per cent, to Rs 3,351 per barrel, in a business turnover of 1,353 lots.
Likewise, the oil for delivery in far—month July gained Rs 21, or 0.63 per cent, to Rs 3,378 per barrel in 19 lots.
Analysts said speculative positions built up by traders after crude oil prices climbed to a five—week high in Asian markets before OPEC ministers meet in Vienna to decide on extending output cuts, influenced crude futures.
Meanwhile, West Texas Intermediate was up 0.74 per cent to USD 51.74, while global benchmark Brent added 0.80 per cent to USD 54.39 a barrel.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.