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Crude oil futures rose Rs 38 or 1 per cent to Rs 3,856 per barrel today as speculators created positions amid a recovery in Asian trade amid Greece and supply worries.
On the Multi Commodity Exchange, crude oil for delivery in June gained Rs 38 or 1 per cent to Rs 3,856 per barrel with a business turnover of 2,530 lots.
Similarly, the oil for July delivery moved up by Rs 37 or 0.96 per cent to Rs 3,910 per barrel with a business volume of 230 lots.
Marketmen said the rise in crude oil futures was largely in tune with recovery in Asian trade, thanks in part to a softer dollar despite worries over supply and the breakdown in Greece’s debt talks.
Meanwhile, West Texas Intermediate crude prices for July delivery advanced 60 cents to $60.12, while Brent crude for August, a new contract, was up 32 cents to $64.27 a barrel in late-morning trade on the New York Mercantile Exchange.
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