Comments
Crude oil futures rose 1.24 per cent to Rs 5,396 per barrel today, as speculators enlarged their positions due to a firming global trend.
At the Multi Commodity Exchange, crude oil for delivery in March rose Rs 56 or 1.07 per cent to Rs 5,283 per barrel in 5,448 lots. Similarly, April contract moved up by Rs 55 or 1.06 per cent to Rs 5,337 per barrel in 702 lots.
Analysts attributed the rise in crude futures to a firming trend in Asian markets, supported by upbeat US economic data and fears over supply disruptions in West Asia.
Meanwhile, crude oil for delivery in April advanced by one cent to $107.08 a barrel in morning trade on the New York Mercantile Exchange.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.