 "Crude oil up by 1.9% on overseas cues")
Crude oil prices climbed by Rs 48 to Rs 2,618 per barrel today as speculators widened their positions amid a firm trend in Asia.
At the Multi Commodity Exchange, crude oil for delivery in February gained Rs 48, or 1.87%, to Rs 2,618 per barrel, with a business turnover of 186 lots.
The oil for the January delivery shot up by Rs 41, or 1.65%, to Rs 2,521 per barrel, with a business volume of 3,399 lots.
Saudi Arabia announced the decision yesterday, a day after protesters ransacked its embassy in Tehran over the execution of a Shiite cleric.
Meanwhile, West Texas Intermediate crude for February advanced by 48 cents, or 1.30%, to $37.52, while Brent for February rose 61 cents, or 1.64%, to $37.89 a barrel on the New York Mercantile Exchange.
At the Multi Commodity Exchange, crude oil for delivery in February gained Rs 48, or 1.87%, to Rs 2,618 per barrel, with a business turnover of 186 lots.
The oil for the January delivery shot up by Rs 41, or 1.65%, to Rs 2,521 per barrel, with a business volume of 3,399 lots.
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Marketmen said the rise in crude oil futures was largely in tandem with firming trend in Asia after crude kingpin Saudi Arabia cut diplomatic ties with Iran following a row over Tehran's execution of a Shiite cleric.
Saudi Arabia announced the decision yesterday, a day after protesters ransacked its embassy in Tehran over the execution of a Shiite cleric.
Meanwhile, West Texas Intermediate crude for February advanced by 48 cents, or 1.30%, to $37.52, while Brent for February rose 61 cents, or 1.64%, to $37.89 a barrel on the New York Mercantile Exchange.
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