Crude oil futures rose 0.5 per cent to Rs 6,201 per barrel today as speculators created positions amid a firm trend in Asian market.
On the Multi Commodity Exchange, crude oil for delivery in June gained Rs 31 or 0.50 per cent to Rs 6,201 per barrel with a business turnover of 775 lots.
Similarly, the oil for July delivery moved up by Rs 30 or 0.49 per cent to Rs 6,179 per barrel with a business volume of 52 lots.
Marketmen said the rise in crude oil futures was largely in tandem with a firm trend in Asian trade ahead of the release of a key indicator of US energy demand and a meeting of the OPEC oil cartel.
Meanwhile, West Texas Intermediate crude prices for July delivery advanced by 4 cents to $104.39 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.