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Crude oil futures jump 0.95% on global cues

Press Trust of India  |  New Delhi 

prices rose 0.95 per cent to Rs 3,943 per barrel in futures market today after participants raised bets in line with firm global trends.

At the Multi Commodity Exchange, for delivery in January contracts was trading Rs 37, or 0.95 per cent, higher at Rs 3,943 per barrel in a business turnover of 10,143 lots.

The for delivery in February too was up Rs 34, or 0.87 per cent, at Rs 3,947 per barrel in 556 lots.

Traders said speculators raised bets on account of a firm trend in Asian markets where crude hit its highest level since 2015 as speculators bet on further price rises amid OPEC-led production cuts and a dip in American drilling activity, buoyed sentiments in futures trade here.

Meanwhile, Intermediate gained 51 cents to USD 62.24 while Brent crude, the international standard, added 41 cents at USD 68.19 per barrel.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, January 09 2018. 13:45 IST