Crude oil futures up on global cues

Crude oil prices moved up by Rs 30 to Rs 5,007 per barrel in futures trade today as speculators enlarged their positions, supported by a firming global trend.

At the Multi Commodity Exchange, crude oil for delivery in August rose by Rs 30, or 0.60 per cent to Rs 5,007 per barrel, with a business turnover of four lots.

Likewise, the oil for delivery in May gained Rs 3, or 0.06% to Rs 4,870 per barrel, with an open interest of 30 lots.

Market analysts said firming trend in the global markets mainly influenced crude oil prices at futures market here.

 

Meanwhile, crude oil for delivery in June rose 92 cents to $109.20 a barrel on the New York Mercantile Exchange.