Crude oil futures rise 0.41% on global cues
The oil for delivery in April moved up by Rs 10, or 0.33%, to Rs 3,027 per barrel
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Crude oil futures rose 0.41 per cent to Rs 3,161 per barrel on Tuesday as speculators created fresh positions despite a weak trend in Asian markets.
At the Multi Commodity Exchange, crude oil for delivery in May gained Rs 13, or 0.41 per cent, to Rs 3,161 per barrel, with a business turnover of 300 lots.
The oil for delivery in April moved up by Rs 10, or 0.33 per cent, to Rs 3,027 per barrel, with a business volume of 4,704 lots.
Marketmen said fresh positions built-up by speculators at current levels pushed up crude oil prices at futures trade but a weak trend in Asian markets as dealers monitored last-ditch efforts between global powers and Iran to reach a deal on Tehran's nuclear programme, capped the gains.
Meanwhile, West Texas Intermediate crude prices fell 69 cents to $47.99 while Brent eased 55 cents to $55.74 per barrel in mid-day trade on the New York Mercantile Exchange.
At the Multi Commodity Exchange, crude oil for delivery in May gained Rs 13, or 0.41 per cent, to Rs 3,161 per barrel, with a business turnover of 300 lots.
The oil for delivery in April moved up by Rs 10, or 0.33 per cent, to Rs 3,027 per barrel, with a business volume of 4,704 lots.
Marketmen said fresh positions built-up by speculators at current levels pushed up crude oil prices at futures trade but a weak trend in Asian markets as dealers monitored last-ditch efforts between global powers and Iran to reach a deal on Tehran's nuclear programme, capped the gains.
Meanwhile, West Texas Intermediate crude prices fell 69 cents to $47.99 while Brent eased 55 cents to $55.74 per barrel in mid-day trade on the New York Mercantile Exchange.
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First Published: Mar 31 2015 | 11:33 AM IST