 "Crude oil prices firm up on geopolitical tensions")
Crude oil prices rose by 0.56% to Rs 6,256 per barrel today after participants indulged in creating speculative positions, tracking a firming trend in Asia.
At the Multi Commodity Exchange, crude oil for delivery in July traded Rs 35, or 0.56% higher at Rs 6,256 per barrel, with a business turnover of 1,128 lots.
The oil for August also moved up by Rs 25, or 0.40%, to Rs 6,205 per barrel, with a business volume of 154 lots.
Meanwhile, US benchmark West Texas Intermediate for delivery in August was up 53 cents to $103.72, while Brent crude for September gained 65 cents to $108.54 per barrel in late-morning trade.
At the Multi Commodity Exchange, crude oil for delivery in July traded Rs 35, or 0.56% higher at Rs 6,256 per barrel, with a business turnover of 1,128 lots.
The oil for August also moved up by Rs 25, or 0.40%, to Rs 6,205 per barrel, with a business volume of 154 lots.
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Market analysts attributed the rise in crude oil futures to a firming trend in Asia after a Malaysia Airlines plane was reportedly shot down in war-ravaged Ukraine and Israel launched a ground offensive into Gaza.
Meanwhile, US benchmark West Texas Intermediate for delivery in August was up 53 cents to $103.72, while Brent crude for September gained 65 cents to $108.54 per barrel in late-morning trade.
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