Crude oil prices hardened by 0.18 per cent to Rs 3,945 per barrel in futures trading Thursday as speculators created fresh bets, taking positive cues from global market.
At the Multi Commodity Exchange, crude oil for delivery in March rose by Rs 7, or 0.18 per cent, to Rs 3,945 per barrel in a business turnover of 15,138 lots.
The oil for delivery in April contracts, too, rose by Rs 6, or 0.15 per cent, to Rs 3,987 per barrel in 750 lots.
Analysts said speculators built fresh positions after oil prices rose overseas on expectations of a tighter market due to ongoing production cut by OPEC members.
Meanwhile, West Texas Intermediate gained 0.04 per cent to USD 56.24, while Brent crude rose 0.21 per cent to USD 63.13 per 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