Crude oil marginally up on global cues

Crude oil futures rose by 0.17% to Rs 5,247 per barrel today as speculators enlarged their positions following a firming global trend.

At the Multi Commodity Exchange, the April contract rose by Rs 9, or 0.17%, to Rs 5,247 per barrel, with an open interest of 2,020 lots.

The May contract moved up by Rs 9, or 0.17%, to Rs 5,302 per barrel, with an open interest of 106 lots.

Analysts attributed the rise in crude futures to a firming trend in Asian trade as worries about a possible disruption to Middle East crude supplies outweighed the gloom from the latest US jobs data.

 

Meanwhile, crude oil for delivery in May advanced by 24 cents to $102.70 a barrel in morning trade on the New York Mercantile Exchange.