Crude oil up by 0.2% on overseas cues
Speculators created positions even as it fell to near six-year lows in Asian markets
 "Crude oil up by 0.2% on overseas cues")
Crude oil futures rose 0.24% to Rs 2,923 per barrel today as speculators created positions even as it fell to near six-year lows in Asian markets.
At the Multi Commodity Exchange, crude oil for delivery in April gained Rs 7, or 0.24%, to Rs 2,923 per barrel, with a business turnover of 615 lots.
The oil for March delivery moved up by Rs 6, or 0.22%, to Rs 2,747 per barrel, with a business volume of 3,229 lots.
Meanwhile, West Texas Intermediate crude prices for April delivery was down eight cents to $43.80, while Brent crude for May, a new contract, rose 27 cents to $54.21 a barrel in late morning trade, the lowest since March 2009 on the New York Mercantile Exchange.
At the Multi Commodity Exchange, crude oil for delivery in April gained Rs 7, or 0.24%, to Rs 2,923 per barrel, with a business turnover of 615 lots.
The oil for March delivery moved up by Rs 6, or 0.22%, to Rs 2,747 per barrel, with a business volume of 3,229 lots.
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Marketmen said fresh positions built-up by speculators at prevailing lower levels, led to the rise in crude oil futures but a weak trend in Asian trade, capped the gains.
Meanwhile, West Texas Intermediate crude prices for April delivery was down eight cents to $43.80, while Brent crude for May, a new contract, rose 27 cents to $54.21 a barrel in late morning trade, the lowest since March 2009 on the New York Mercantile Exchange.