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Crude oil up on overseas cues

A firming trend in Asia pulled up the price

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futures prices rose by 0.28% to Rs 4,997 per barrel today as speculators created fresh positions amid a firm trend in Asia.

At the Multi Commodity Exchange, the January contract gained Rs 14, or 0.28%, to Rs 4,997 per barrel, with a business turnover of 6,217 lots.

The February contract moved up by Rs 12, or 0.24%, to Rs 5,048 per barrel, with a business volume of 513 lots.

Marketmen said the rise in crude oil futures was largely due to a firming trend in Asia.

Meanwhile, the February contract advanced by six cents to $ 91.04 a barrel on the New York Mercantile Exchange.

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Crude oil futures up on overseas cues

Crude oil futures prices rose by 0.66% to Rs 5,025 per barrel today as speculators created fresh positions amid a firm trend in Asia.

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