Crude oil futures up on spot demand

PTI New Delhi | Updated on April 07, 2011

Crude oil prices were up by Rs 22 to Rs 4,918 per barrel at the futures trade today as speculators enlarged their position on pick-up in spot demand.

At the Multi Commodity Exchange, crude oil for delivery in June gained Rs 22 or 0.45 per cent to Rs 4,919 per barrel with a business turnover of 20 lots. Likewise, April contract moved up by Rs 15 or 0.31 per cent to Rs 4,809 per barrel with an open interest of five lots.

Traders attributed the rise in crude oil futures prices to fresh buying by speculators on pick-up in demand at the spot market.

Published on April 07, 2011

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