Crude oil futures were up 0.17 per cent at Rs 5,967 per barrel today as speculators engaged in creating positions amid a firm trend in Asian trade.
On the Multi Commodity Exchange, crude oil for delivery in August was up by Rs 10 or 0.17 per cent to Rs 5,967 per barrel with a business turnover of 2,480 lots.
The oil for delivery in September also rose by a similar margin to trade at Rs 5,964 per barrel in a turnover of 207 lots.
Market analysts said the rise in crude oil futures was largely in tandem with a firm trend in Asian trade but remained under pressure over ebbing fears about armed conflicts around the world and concerns about weakening US demand.
Meanwhile, West Texas Intermediate crude prices for September delivery gained nine cents to $97.01 per barrel in mid-morning trade at 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.