NEW DELHI, June 16: Crude oil futures rose Rs 38, or 1 per cent, to Rs 3,856 per barrel today as speculators created positions amid a recovery in Asian trade amid Greece and supply worries.
At Multi Commodity Exchange, crude oil for delivery in June contracts gained Rs 38, or 1 per cent, to Rs 3,856 per barrel, with a business turnover of 2,530 lots.
The oil for July delivery moved up Rs 37, or 0.96 per cent, to Rs 3,910 per barrel, with a business volume of 230 lots.
Marketmen said the rise in crude oil futures is largely in tune with recovery in Asian trade, thanks in part to a softer dollar despite worries over supply and the breakdown in Greece’s debt talks.
Meanwhile, West Texas Intermediate crude prices for July delivery advanced 60 cents to USD 60.12 while Brent crude for August, a new contract, was up 32 cents to USD 64.27 a barrel in late-morning trade on the New York Mercantile Exchange. (PTI)
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