Business Standard

Crude oil futures up 0.83% on global cues

Image

Press Trust of India New Delhi
Crude oil prices rose 0.83 per cent to Rs 5,255 per barrel in futures trade today as speculators built up fresh positions taking positive cues from overseas markets.
At the Multi Commodity Exchange, crude oil for delivery in October went up by Rs 43, or 0.83 per cent to Rs 5,255 per barrel in a business turnover of 476 lots.
Likewise, the oil for delivery in November was trading higher by Rs 41, or 0.79 per cent, to Rs 5,262 per barrel in 12 lots.
Analysts said fresh positions built up by traders in tandem with a firm trend overseas, lifted by looming US sanctions against major crude exporter Iran, buoyed the sentiment here.
Meanwhile, West Texas Intermediate gained 77 cents, or 1.08 per cent to USD 72.34, while global benchmark Brent rose 71 cents, or 0.88 per cent to USD 81.50 a barrel.

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Sep 27 2018 | 11:50 AM IST

Explore News