Crude oil futures rise on global cues

Tracking a firm trend overseas,crude oil prices rose by Rs 14 to Rs 5,348 per barrel in futures trade.

Written by Agencies

New Delhi | September 17, 2012 03:25 PM IST

1 min read

Tracking a firm trend overseas,crude oil prices rose by Rs 14 to Rs 5,348 per barrel in futures trade today as speculators created fresh positions.

At the Multi Commodity Exchange,crude oil for delivery in September rose by Rs 14,or 0.26 per cent,to Rs 5,348 per barrel,with a business turnover of 34,097 lots.

Similarly,the oil for delivery in October moved up by Rs 13,or 0.24 per cent,to Rs 5,379 per barrel,with a business turnover of 5,957 lots.

Marketmen said fresh buying by speculators in tandem with a firm global trend mainly led to a rise in crude oil prices at futures market.

Meanwhile,crude oil for October delivery gained 19 cents to USD 99.19 a barrel on the New York Mercantile Exchange.

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