Crude oil futures up 0.7% on overseas cues
Weak economic data from China affected crude oil futures here
)
Crude oil futures for May recovered by Rs 31, or 0.65%, to Rs 4,807 per barrel in 2,196 lots.
At the Multi Commodity Exchange (MCX), the June contract moved up by Rs 39, or 0.60%, to Rs 4,841 per barrel in 136 lots.
Prices rose as speculators created fresh positions.
Firming trend in Asia as traders bought up cheap crude following a price plunge last week due to weak economic data from China, world's biggest energy-consuming nation, affected the trade.
On the New York Mercantile Exchange (NYMEX), the May contract added 29 cents to $88.30 a barrel.
At the Multi Commodity Exchange (MCX), the June contract moved up by Rs 39, or 0.60%, to Rs 4,841 per barrel in 136 lots.
Prices rose as speculators created fresh positions.
Firming trend in Asia as traders bought up cheap crude following a price plunge last week due to weak economic data from China, world's biggest energy-consuming nation, affected the trade.
On the New York Mercantile Exchange (NYMEX), the May contract added 29 cents to $88.30 a barrel.
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Apr 22 2013 | 2:03 PM IST