Crude oil up by 0.8% amid mixed trend overseas
Prices rose to Rs 20 per barrel
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Crude oil futures rose by Rs 20 to Rs 2,634 per barrel today as speculators widened their positions amid a mixed trend overseas.
In futures trading at Multi Commodity Exchange, crude for delivery in January next year was trading higher by Rs 20, or 0.77%, to Rs 2,634 per barrel, with a business turnover of 180 lots.
The oil for delivery in December also rose Rs 15, or 0.60%, to Rs 2,511 per barrel in a turnover of 2,175 lots.
Analysts said the rise in crude oil futures was largely in tandem with a firm trend in Asian trade following signs of a slight improvement in US demand but concerns that an oversupply will persist past next year kept the the commodity struggling at multi-year lows.
Meanwhile, West Texas Intermediate crude prices for January delivery rose 23 cents to $37.39 while Brent for January was trading 33 cents higher at $40.44 per barrel at the New York Mercantile Exchange.
In futures trading at Multi Commodity Exchange, crude for delivery in January next year was trading higher by Rs 20, or 0.77%, to Rs 2,634 per barrel, with a business turnover of 180 lots.
The oil for delivery in December also rose Rs 15, or 0.60%, to Rs 2,511 per barrel in a turnover of 2,175 lots.
Analysts said the rise in crude oil futures was largely in tandem with a firm trend in Asian trade following signs of a slight improvement in US demand but concerns that an oversupply will persist past next year kept the the commodity struggling at multi-year lows.
Meanwhile, West Texas Intermediate crude prices for January delivery rose 23 cents to $37.39 while Brent for January was trading 33 cents higher at $40.44 per barrel at the New York Mercantile Exchange.
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First Published: Dec 10 2015 | 10:48 AM IST