Crude oil up 0.62% on overseas cues

Mixed trend in Asia as dealers await release of a US stockpiles report for clues about demand

Crude oil futures rose by 0.62 per cent to Rs 6,340 per barrel today as speculators created fresh positions amid a mixed trend in Asia.

At the Multi Commodity Exchange, crude oil for delivery in July traded higher by Rs 39, or 0.62 per cent, to Rs 6,340 per barrel, with a business turnover of 2,603 lots.

August crude added by Rs 37, or 0.59 per cent, to Rs 6,337 per barrel, with a business volume of 145 lots.

Analysts attributed the rise in crude oil futures to a mixed trend in Asia as dealers await the release of a US stockpiles report for clues about demand in the world's top crude consumer.
 

Meanwhile, West Texas Intermediate crude for August delivery was up one cent to $105.35 a barrel, while Brent North Sea crude for August eased 15 cents to $112.14 in mid-morning trade on the New York Mercantile Exchange.