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Crude oil futures rise 0.23% on global cues

Press Trust of India  |  New Delhi 

traded 0.23 per cent higher at Rs 3,900 per barrel in market today as speculators widened bets, taking positive cues from global market.

At the Multi Commodity Exchange, for delivery in February rose Rs 9, or 0.23 per cent, to Rs 3,900 per barrel in a business turnover of 90 lots.

Likewise, the for delivery in the current month was trading higher by Rs 8, or 0.21 per cent, at Rs 3,895 per barrel in 1,289 lots.

Analysts said, speculators widened positions on account of output cut by OPEC and Russia; freezing weather in the US which has fuelled demand for heating oil and falling inventories influenced prices in trade here.

Meanwhile, Intermediate gained 0.26 per cent, to USD 61.60 per barrel, while Brent crude, international benchmark, rose 0.19 per cent at USD 67.75.

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

First Published: Mon, January 08 2018. 11:05 IST