Crude oil up 0.4% on mixed Asian cues
Oil for delivery in December moved up by 0.29%
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<a href="http://www.shutterstock.com/pic-33742723/stock-photo-many-barrels-of-oil-on-a-white-background.html?src=4E5JmKDWXyFhy3gm4lyKlQ-1-32" target="_blank">Crude Oil</a> image via Shutterstock
Crude oil futures rose by 0.40% to Rs 4,740 per barrel today as speculators created fresh positions at prevailing levels amid a mixed trend in Asia.
At the Multi Commodity Exchange, crude oil for delivery this month traded higher by Rs 19, or 0.40%, to Rs 4,740 per barrel, with a business turnover of 2,795 lots.
The oil for delivery in December also moved up by Rs 14, or 0.29%, to Rs 4,768 per barrel, with a business volume of 176 lots.
Analysts attributed the rise in crude oil futures to a mixed trend in Asia as dealers looked ahead to the release of the latest US supply report after a sell-off in the previous session owing to price cuts by Saudi Arabia.
Meanwhile, West Texas Intermediate crude for December delivery rose 12 cents to USD 77.31 a barrel, while Brent crude for December fell 20 cents to USD 82.62 in late-morning trade on the New York Mercantile Exchange.
At the Multi Commodity Exchange, crude oil for delivery this month traded higher by Rs 19, or 0.40%, to Rs 4,740 per barrel, with a business turnover of 2,795 lots.
The oil for delivery in December also moved up by Rs 14, or 0.29%, to Rs 4,768 per barrel, with a business volume of 176 lots.
Analysts attributed the rise in crude oil futures to a mixed trend in Asia as dealers looked ahead to the release of the latest US supply report after a sell-off in the previous session owing to price cuts by Saudi Arabia.
Meanwhile, West Texas Intermediate crude for December delivery rose 12 cents to USD 77.31 a barrel, while Brent crude for December fell 20 cents to USD 82.62 in late-morning trade on the New York Mercantile Exchange.
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First Published: Nov 05 2014 | 11:54 AM IST