Crude oil up 0.6% on Asian cues

Oil prices for August were also up by 0.62%

Crude oil futures rose 0.66% to Rs 6,379 per barrel today as speculators created positions on a firming trend in the Asian region on a weak dollar.

At the Multi Commodity Exchange, crude oil prices for delivery in July traded higher by Rs 42, or 0.66%, to Rs 6,379 per barrel, with a business turnover of 1,386 lots.

Crude oil prices for August were also up by Rs 39, or 0.62% to Rs 6,371 per barrel with a business volume of 97 lots.

Analysts attributed rise in crude oil at futures trade to a firming trend in Asian trading as dealers made the most of a weakening dollar while keeping an eye on continuing fighting in Iraq.
 
Meanwhile, West Texas Intermediate crude prices for August delivery gained 23 cents to $105.60 a barrel, while Brent crude gained eight cents to $112.44 in late morning trade on the New York Mercantile Exchange.