Commodities

Crude oil futures jump to Rs 2,888 per barrel

PTI New Delhi | Updated on January 22, 2018

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Crude oil futures prices rose 0.98 per cent to Rs 2,888 per barrel today as speculators built bets amid a firm trend in Asia.

At the Multi Commodity Exchange, crude oil for delivery in December was trading higher by Rs 28 or 0.98 per cent higher at Rs 2,888 per barrel with a business turnover of 14,010 lots.

Similarly, the oil for delivery in January moved up by Rs 26 or 0.88 per cent to Rs 2,994 per barrel with a business volume of 302 lots.

Marketmen said the rise in crude oil futures was largely in tandem with a firm trend in Asia where it held above $43 a barrel after US commercial crude supplies rose at a slower pace, while concerns over the shooting down by Turkey of a Russian warplane lingered.

Data from the US Department of Energy released yesterday showed that the country’s commercial crude supplies rose 1.0 million barrels for the week ended November 20.

Meanwhile, West Texas Intermediate crude for delivery in January was up eight cents at $43.12, while Brent crude for January gained seven cents to $46.24 on the New York Mercantile Exchange.

Published on November 26, 2015

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