Crude oil futures up 1.4% on Asian cues
Speculators create positions amid a firm trend in Asia
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Crude oil futures prices rose by 1.38% to Rs 3,599 per barrel today as speculators created positions amid a firm trend in Asia.
At the Multi Commodity Exchange, crude oil for delivery in January gained Rs 49, or 1.38%, to Rs 3,599 per barrel, with a business turnover of 2,104 lots.
The oil for the February delivery moved up by Rs 47, or 1.30%, to Rs 3,650 per barrel, with a business volume of 77 lots.
Marketmen said the rise in crude oil futures was largely in tandem with a firming trend in Asian trade as dealers reacted to a surprise attack on Libya's main oil terminals.
Meanwhile, West Texas Intermediate crude prices for February delivery rose 28 cents to $ 56.12, while Brent for February gained 13 cents to $ 60.37 a barrel in mid-morning trade on the New York Mercantile Exchange.
At the Multi Commodity Exchange, crude oil for delivery in January gained Rs 49, or 1.38%, to Rs 3,599 per barrel, with a business turnover of 2,104 lots.
The oil for the February delivery moved up by Rs 47, or 1.30%, to Rs 3,650 per barrel, with a business volume of 77 lots.
Marketmen said the rise in crude oil futures was largely in tandem with a firming trend in Asian trade as dealers reacted to a surprise attack on Libya's main oil terminals.
Meanwhile, West Texas Intermediate crude prices for February delivery rose 28 cents to $ 56.12, while Brent for February gained 13 cents to $ 60.37 a barrel in mid-morning trade on the New York Mercantile Exchange.
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First Published: Dec 26 2014 | 11:45 AM IST