Marginal rise in crude futures

PTI New Delhi | Updated on December 23, 2011 Published on December 23, 2011

Supported by a firming trend overseas on the back of positive US jobs data, crude oil prices rose 0.13 per cent at the futures market today.

At the Multi Commodity Exchange, crude oil for delivery in February gained Rs 7 or 0.13 per cent to Rs 5,293 per barrel with a trading volume of 393 lots. In a similar fashion, the oil for delivery in January gained Rs 6 or 0.11 per cent to Rs 5,274 per barrel in 5,829 lots.

Analysts said increased speculator interest on the back of a firming trend overseas following the release of positive US jobs data and a fall in crude inventories — which dropped to their lowest level in nearly three years — mainly influenced crude futures prices here.

Meanwhile, crude oil for February delivery gained seven cents to $99.60 a barrel on the New York Mercantile Exchange.

Published on December 23, 2011
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