Crude oil futures firm up on overseas cues

PTI New Delhi | Updated on January 23, 2018 Published on May 19, 2015

Crude oil futures prices rose by 0.18 per cent to Rs 3,919 per barrel today as speculators engaged in enlarging positions tracking a mixed trend in Asia.

At the Multi Commodity Exchange, crude oil for delivery in far—month July traded Rs 7, or 0.18 per cent higher at Rs 3,919 per barrel, with a business turnover of 304 lots.

The oil for June also moved up by Rs 6 or 0.16 per cent, to Rs 3,863 per barrel with a business volume of 2,002 lots.

Analysts attributed the rise in crude oil futures to a mixed trend in Asia as a global glut and soft demand overshadowed the impact of geopolitical tensions in the crude—rich Middle East.

Meanwhile, West Texas Intermediate (WTI) crude prices for June delivery rose 6 cents to USD 59.49 while Brent crude for July eased 14 cents to USD 66.13 a barrel in late—morning trade on the New York Mercantile Exchange.

Published on May 19, 2015
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