Comments
Crude oil futures rose by 0.53 per cent to Rs 3,237 per barrel today as speculators created fresh positions amid a better trend in Asia.
At the Multi Commodity Exchange, crude oil for delivery in April traded higher by Rs 17, or 0.53 per cent, to Rs 3,237 per barrel, with a business turnover of 2,054 lots.
The oil for delivery in May also moved up by Rs 14, or 0.42 per cent, to Rs 3,368 per barrel, with a business volume of 312 lots.
Traders attributed the rise in crude oil futures to a better trend in Asia, extending last week’s gains but the persistent global supply glut will likely cap advances.
Meanwhile, West Texas Intermediate crude added 31 cents to USD 51.95 a barrel, while Brent was up 24 cents at USD 58.11 in late—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.