Commodities

Crude oil futures up at Rs 4,615 per barrel

PTI New Delhi | Updated on June 26, 2018 Published on June 26, 2018

Crude oil prices rose 0.24 per cent to Rs 4,615 per barrel at the futures trade due to creation of fresh bets by speculators on firm global cues.

At the Multi Commodity Exchange, crude oil for delivery in far-month August rose Rs 11 or 0.24 per cent to Rs 4,615 per barrel in a business turnover of 57 lots. Likewise, the oil for delivery in July traded higher by Rs 7 or 0.15 per cent to Rs 4,665 per barrel in 558 lots.

Analysts said speculators built fresh positions as oil prices rose in Asia due to uncertainty over Libyan oil exports, although plans by producer cartel OPEC to raise output continued to drag on investor sentiment.

Meanwhile, West Texas Intermediate gained 23 cents, or 0.34 per cent, to $68.31, while Brent crude, the international benchmark for oil prices, rose 15 cents, or 0.20 per cent, to $74.88 per barrel.

Published on June 26, 2018
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