Crude oil rises by Rs 38 per barrel

Crude oil futures rose Rs 38, or 1%, to Rs 3,856 per barrel today as speculators created positions amid a recovery in Asian trade amid Greece and supply worries.

At Multi Commodity Exchange, crude oil for delivery in June contracts gained Rs 38, or 1%, to Rs 3,856 per barrel, with a business turnover of 2,530 lots.

The oil for July delivery moved up Rs 37, or 0.96%, to Rs 3,910 per barrel, with a business volume of 230 lots.

 

Marketmen said the rise in crude oil futures is largely in tune with recovery in Asian trade, thanks in part to a softer dollar despite worries over supply and the breakdown in Greece's debt talks.

Meanwhile, West Texas Intermediate crude prices for July delivery advanced 60 cents to $60.12 while Brent crude for August, a new contract, was up 32 cents to $64.27 a barrel in late-morning trade on the New York Mercantile Exchange.