Comments
Crude oil future prices rose 0.8 per cent to Rs 5,411 per barrel today as speculators created fresh positions, tracking a firm trend in Asia.
At the Multi Commodity Exchange, crude oil for delivery in September gained Rs 43 or 0.8 per cent to Rs 5,411 per barrel with a business turnover of 9,476 lots.
Similarly, the oil for October delivery moved up by Rs 42 or 0.78 per cent to Rs 5,445 per barrel with a business volume of 791 lots.
Marketmen said the rise in crude oil futures was on account of a firm trend in Asia as hopes rose that the US Federal Reserve would kickstart the economy of the world’s largest oil consumer.
Meanwhile, crude oil for October delivery advanced by 43 cents to $97.69 a barrel 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.