Crude oil prices moved up by 0.32 per cent to Rs 4,449 per barrel at the futures trade today largely supported by a firming trend in the Asian region.
At the Multi Commodity Exchange, crude oil for delivery in June rose by Rs 14 or 0.32 per cent to Rs 4,449 per barrel with a business turnover of 2,499 lots. Similarly, July contract also shot up by Rs 12 or 0.27 per cent to Rs 4,495 per barrel with a business volume of 117 lots.
Market analysts said a firming trend overseas on surging crude demand from China, the world’s second-largest economy, mainly influenced crude prices at the futures trade here.
Meanwhile, crude oil for delivery in July rose by 30 cents to $98 per barrel on the New York Mercantile Exchange.