Crude oil recovers in futures trade on global cues

Crude oil prices moved up by 0.32% to Rs 4,449 per barrel in futures trade today largely supported by a firming trend in the Asian region. 

At the Multi Commodity Exchange, crude oil for delivery in June rose by Rs 14, or 0.32% to Rs 4,449 per barrel, with a business turnover of 2,499 lots. 

The oil for delivery in July also shot up by Rs 12, or 0.27% to Rs 4,495 per barrel, with a business volume of 117 lots.

Market analysts said a firming trend overseas on surging crude demand from China, the world's second-largest economy, mainly influenced crude prices at futures trade here.

 

Meanwhile, crude oil for delivery in July rose by 30 cents to $98 per barrel on the New York Mercantile Exchange.