Commodities

Crude oil futures still up

PTI New Delhi | Updated on May 11, 2011 Published on May 11, 2011

Crude oil prices moved up by 0.91 per cent to Rs 4,652 a barrel in futures trade on Wednesday as speculators enlarged their positions, triggered by a firming trend in the Asian region.

At the Multi Commodity Exchange, crude oil for delivery in May rose by Rs 58, or 0.91 per cent to Rs 4,652 a barrel, with a business turnover of 3,982 lots.

The oil for delivery in June also shot up by Rs 42, or 0.90 per cent to Rs 4,707 a barrel, with a business volume of 427 lots.

Market analysts said a firming trend overseas on fears that record floods might affect refineries along the Mississippi River in the United States, influenced crude futures prices here.

Meanwhile, crude oil for delivery in June rose by 14 cents to $104.026 a barrel on the New York Mercantile Exchange.

Published on May 11, 2011
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