Crude oil up by 0.2% on overseas cues

Crude oil futures prices rose by 0.18% to Rs 3,919 per barrel today as speculators engaged in enlarging positions tracking a mixed trend in Asia.

At the Multi Commodity Exchange, crude oil for delivery in far-month July traded Rs 7, or 0.18% higher at Rs 3,919 per barrel, with a business turnover of 304 lots.

The oil for June also moved up by Rs 6 or 0.16%, to Rs 3,863 per barrel with a business volume of 2,002 lots.

Analysts attributed the rise in crude oil futures to a mixed trend in Asia as a global glut and soft demand overshadowed the impact of geopolitical tensions in the crude-rich Middle East.
 

Meanwhile, West Texas Intermediate (WTI) crude prices for June delivery rose 6 cents to $59.49 while Brent crude for July eased 14 cents to $66.13 a barrel in late-morning trade on the New York Mercantile Exchange.