Crude oil up on global cues
Crude oil prices rose by Rs 42 to Rs 4137 per barrel in futures market today on fresh buying by speculators,supported by a firming global trend.
At the Multi Commodity Exchange, the November contract rose by Rs 42, or 1.03%, to Rs 4,137 per barrel, with a business turnover of 2,741 lots.
The October crude oil traded higher by Rs 41, or 1.01%, to Rs 4,112 per barrel, with a trade volume of 2,741 lots.
Similarly, the oil for delivery in October moved up by Rs 41, or 1.01%, to Rs 4,112 per barrel, with a business volume of 27,684 lots.
Market analysts said fresh buying by speculators in tandem with a firming global trend mainly led to rise in crude oil prices at futures trade.
Meanwhile, crude for November delivery advanced by 99 cents to USD 83.97 a barrel on the New York Mercantile Exchange.