Crude oil futures recover marginally

Written by Agencies | New Delhi | Updated: Mar 31 2011, 19:59pm hrs
Buoyed by a firming trend in Asian trade in tandem with covering-up of short positions by speculators, crude oil prices recovered by 0.27 per cent to Rs 4,754 per barrel in futures trade on Thursday.

At the Multi Commodity Exchange, crude oil for delivery in May rose by Rs 13, or 0.27 per cent, to Rs 4,754 per barrel, with a trading volume of 476 lots.

Similarly, oil for delivery in April moved up by Rs 10, or 0.21 per cent, to Rs 4,699 per barrel, clocking a business volume of 6,993 lots.

Analysts said firming trend in crude oil in Asian trade, supported by overnight rally in the US market, influenced oil prices at futures trade here.

Meanwhile, crude oil for delivery in May recovered by 0.28 cents to USD 104.55 per barrel in Asian trade.