Crude oil up 0.5% on overseas cues
Oil for June also moved up by 0.53%
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<a href="http://www.shutterstock.com/pic-33742723/stock-photo-many-barrels-of-oil-on-a-white-background.html?src=4E5JmKDWXyFhy3gm4lyKlQ-1-32" target="_blank">Crude Oil</a> image via Shutterstock
Crude oil futures prices rose by 0.55% to Rs 6,193 per barrel today as speculators created fresh positions, tracking a firming trend in Asia.
At the Multi Commodity Exchange, crude oil for delivery in July traded Rs 34, or 0.55%, higher at Rs 6,193 per barrel, with a business turnover of 176 lots.
The oil for June also moved up by Rs 33, or 0.53%, to Rs 6,214 per barrel, with a business volume of 2,042 lots.
Market analysts attributed the rise in crude oil futures to a firming trend in Asia as investors cheered robust economic data from US, China and Japan, with the breakdown of initial Ukraine-Russia talks to avert a gas cut-off also boosting prices.
Meanwhile, West Texas Intermediate crude prices for July delivery rose 26 cents to USD 104.82 a barrel on the New York Mercantile Exchange.
At the Multi Commodity Exchange, crude oil for delivery in July traded Rs 34, or 0.55%, higher at Rs 6,193 per barrel, with a business turnover of 176 lots.
The oil for June also moved up by Rs 33, or 0.53%, to Rs 6,214 per barrel, with a business volume of 2,042 lots.
Market analysts attributed the rise in crude oil futures to a firming trend in Asia as investors cheered robust economic data from US, China and Japan, with the breakdown of initial Ukraine-Russia talks to avert a gas cut-off also boosting prices.
Meanwhile, West Texas Intermediate crude prices for July delivery rose 26 cents to USD 104.82 a barrel on the New York Mercantile Exchange.
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First Published: Jun 10 2014 | 11:58 AM IST