Crude oil up 0.23% on Asian cues

Crude oil futures prices were up by 0.23% to Rs 4,777 per barrel today, as speculators enlarged their positions, buoyed by a firming global trend.

At the Multi Commodity Exchange, March crude oil rose by Rs 11, or 0.23%, to Rs 4,777 per barrel, with a business turnover of 1,657 lots.

The February contract gained Rs 10, or 0.21%, to Rs 4,737 per barrel, with a trading volume of 18,341 lots.

Marketmen said the rise in crude oil prices at futures trade was mainly due to a firming trend in the Asian region as traders awaited a key jobs report for evidence about the strength of the US economy.

 

Meanwhile, crude oil for delivery in February rose by 3 cents to $96.39 a barrel on the New York Mercantile Exchange in morning trade today.