Commodities

Crude oil futures up on Asian cues

PTI New Delhi | Updated on March 11, 2011 Published on March 10, 2011

crude   -  Business Line

Crude oil prices rose 0.56 per cent to Rs 4,825 per barrel at the futures trade today in tandem with a firming trend in Asia on continued fears that the unrest in Libya could spread to other parts of the oil-rich Middle East.

At the Multi Commodity Exchange, crude oil for April delivery rose Rs 30 or 0.56 per cent to Rs 4,825 per barrel with an open interest in 623 lots. In a similar manner, March contract also moved up by Rs 19 or 0.4 per cent to Rs 4,737 per barrel with an open interest of 2,805 lots.

Analysts said crude oil futures prices rose in the Asian trade on continued investor concerns that the unrest in Libya could spread to the oil-rich Middle East, which influenced the trading sentiment at home as well.

Meanwhile, New York’s main contract, crude for April delivery, gained 44 cents to $104.82.

Published on March 10, 2011
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