Crude oil rose 2.33 per cent to Rs 3,912 per barrel in futures trade today as speculators widened positions on positive global cues. At the Multi Commodity Exchange, crude for delivery in February shot up by Rs 89, or 2.33 per cent, to Rs 3,912 per barrel in business turnover of 4,538 lots. On similar lines, the oil for delivery in March contracts was trading higher by Rs 84, or 2.19 per cent, at Rs 3,919 per barrel in 1,183 lots. Analysts attributed the rise in crude oil prices in futures trade to a firm trend overseas. Meanwhile, West Texas Intermediate crude prices rose 71 cents, or 1.17 per cent to USD 61.31, while Brent, used to price international oils, was up 50 cents, or 0.78 per cent to USD 64.86 a barrel at the New York Mercantile Exchange.
Crude oil futures gain 2.33% on firm global cues
Press Trust of India |