1. Crude oil futures up 0.93% on Asian cues

Crude oil futures up 0.93% on Asian cues

Crude oil rose 0.93 per cent to Rs 3,035 per barrel in futures market today as speculators created fresh bets, taking positive cues from Asian markets.

By: | New Delhi | Published: July 14, 2016 1:12 PM
oil At Multi Commodity Exchange, crude oil for delivery in July rose by Rs 28 or 0.93 per cent to Rs 3,035 per barrel in a business turnover of 9,741 lots. (Reuters)

Crude oil rose 0.93 per cent to Rs 3,035 per barrel in futures market today as speculators created fresh bets, taking positive cues from Asian markets.

At Multi Commodity Exchange, crude oil for delivery in July rose by Rs 28 or 0.93 per cent to Rs 3,035 per barrel in a business turnover of 9,741 lots.

Likewise, the oil for delivery in August traded higher by Rs 28 or 0.91 per cent to Rs 3,100 per barrel in 963 lots.

Analysts said speculators built fresh positions after oil prices rebounded in Asia today thanks to a weak dollar and bargain-hunting a day after the commodity sank to a fresh two-month lows. This mainly led to rise in crude oil prices in futures trade here.

Meanwhile, West Texas Intermediate gained 61 cents or 1.36 per cent to USD 45.36 while Brent crude rose 57 cents or 1.23 per cent to USD 46.83 per barrel.

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