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This is an archive article published on October 19, 2012

Crude oil futures up on global cues

Buoyed by a firm global trend,crude oil prices rose by Rs 9 to Rs 4,984 per barrel in futures trade.

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Buoyed by a firm global trend,crude oil prices rose by Rs 9 to Rs 4,984 per barrel in futures trade today as speculators created fresh positions.

At the Multi Commodity Exchange,crude oil for delivery in November rose by Rs 9,or 0.18 per cent,to Rs 4,984 per barrel,with a business turnover of 10,552 lots.

Similarly,the oil for delivery in October moved up by Rs 5,or 0.10 per cent,to Rs 4,941 per barrel in 19,772 lots.

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Marketmen said fresh positions created by speculators in line with a firm global trend mainly helped crude oil prices to trade higher at futures market.

Meanwhile,crude for November delivery was up by one per cent at USD 92.11 a barrel on the New York Mercantile Exchange.

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