Comments
Crude oil futures surged by Rs 66 to Rs 3,923 per barrel today as speculators engaged in creating positions amid a firm trend overseas.
On the Multi Commodity Exchange, crude oil for delivery in May shot up by Rs 66 or 1.71 per cent to Rs 3,923 per barrel with a business turnover of 3,292 lots.
The oil for delivery in June also climbed by Rs 62 or 1.57 per cent to Rs 4,010 per barrel in a turnover of 250 lots.
Analysts said the rise in crude oil futures was largely in tandem with a firm trend in Asian trade on signs the US supply glut is easing.
Meanwhile, West Texas Intermediate crude oil prices for June delivery rose $1.29 to $61.69, while Brent crude for June was up $1.01 or 1.5 per cent at $68.53 per barrel at 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.