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Taking positive cues from global markets, crude prices recovered by 0.12 per cent to Rs 4,026 per barrel at the futures trade today.
Market analysts said a firming trend overseas, where crude was hovering above $87 a barrel today in Asia amid signs of improving consumer demand in the US, the worlds’ largest consumer of crude, supported the upside at the futures trade here.
At the Multi Commodity Exchange, crude oil for delivery in September was trading higher by Rs 5 or 0.12 per cent at Rs 4,026 per barrel with a business turnover of 1,741 lots. Similarly, October contract moved up by Rs 3 or 0.1 per cent to Rs 4,054 per barrel with a trade turnover of 232 lots.
Globally, crude for October delivery added 22 cents to $87.49 a barrel in the morning trade on the New York Mercantile Exchange today.
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