Crude oil rose 0.60 per cent to Rs 4,514 per barrel in futures market today as speculators created fresh bets, taking positive cues from overseas markets.
At Multi Commodity Exchange, crude oil for delivery in May spurted by Rs 27, or 0.60 per cent to Rs 4,514 per barrel, in a business turnover of 1,977 lots.
Likewise, the oil for delivery in June traded higher by Rs 26, or 0.58 per cent, to Rs 4,519 per barrel in 22 lots.
Analysts said speculators built fresh positions after oil prices rose overseas, supported by concerns that the US may re-impose sanctions on major exporter Iran. This mainly led to the rise in crude oil prices in futures trade here.
Meanwhile, West Texas Intermediate gained 28 cents, or 0.42 per cent, to USD 67.53 on the New York Mercantile Exchange. Brent crude advanced 8 cents, or 0.11 per cent to USD 73.21 a barrel.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app