Crude oil futures prices rose 0.48 per cent to Rs 4,865 per barrel today as speculators created fresh positions amid a firm trend in Asia.
At the Multi Commodity Exchange, crude oil for delivery in January gained Rs 23 or 0.48 per cent to Rs 4,865 per barrel with a business turnover of 3,794 lots.
Similarly, the oil for December delivery moved up by Rs 22 or 0.46 per cent to Rs 4,808 per barrel with a business volume of 7,710 lots.
Marketmen said the rise in crude oil futures was largely in tandem with a firm trend in Asia with hopes rising of a US deal to avert the fiscal cliff after a meeting between President Barack Obama and top Republican lawmaker John Boehner.
Meanwhile, crude oil for January delivery advanced by 37 cents to $87.58 a barrel on the New York Mercantile Exchange.
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.