Crude oil futures jump by 3.9% on global cues
Speculators created fresh positions amidst a firming trend in Asian markets
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Crude oil futures soared by Rs 122 at Rs 3,216 per barrel today as speculators created fresh positions amidst a firming trend in Asian markets.
At the Multi Commodity Exchange, crude oil for delivery in April gained Rs 122, or 3.94%, to Rs 3,216 per barrel, with a business turnover of 5,596 lots.
The oil for May delivery also moved up by Rs 112, or 3.49%, to Rs 3,320 per barrel in a turnover of 583 lots.
Marketmen said the rise in crude oil futures was largely in tandem with a firming trend in Asia after Saudi Arabian jets struck rebel targets in Yemen, with fears growing that a spiralling crisis in the country could threaten key crude producers in the Middle East.
Meanwhile, West Texas Intermediate (WTI) crude oil for May delivery surged by $2.28 to $51.49, while Brent crude for May rose by $2.46 to $58.94 per barrel in late-morning trade on the New York Mercantile Exchange.
At the Multi Commodity Exchange, crude oil for delivery in April gained Rs 122, or 3.94%, to Rs 3,216 per barrel, with a business turnover of 5,596 lots.
The oil for May delivery also moved up by Rs 112, or 3.49%, to Rs 3,320 per barrel in a turnover of 583 lots.
Marketmen said the rise in crude oil futures was largely in tandem with a firming trend in Asia after Saudi Arabian jets struck rebel targets in Yemen, with fears growing that a spiralling crisis in the country could threaten key crude producers in the Middle East.
Meanwhile, West Texas Intermediate (WTI) crude oil for May delivery surged by $2.28 to $51.49, while Brent crude for May rose by $2.46 to $58.94 per barrel in late-morning trade on the New York Mercantile Exchange.
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First Published: Mar 26 2015 | 11:13 AM IST