Crude oil futures up on firm overseas cues

NEW DELHI, June 12:  Crude oil futures prices today rose by 0.16 per cent to Rs 6,184 per barrel as speculators created fresh positions tracking a firming trend in the Asian region.
At the Multi Commodity Exchange, crude oil prices for delivery in July traded Rs 10, or 0.16 per cent, higher at Rs 6,184 per barrel, with a business turnover of 73 lots.
The crude oil prices for June also up by Rs 8, or 0.13 per cent, to Rs 6,202 per barrel, with a business volume of 1,713 lots.
Market analysts said the rise in crude oil futures could be attributed to a firming trend in Asia following a surprisingly bullish US stockpiles report and on rising concerns that turmoil in Iraq will disrupt Middle East supplies.
Meanwhile, West Texas Intermediate crude oil prices for July delivery rose 23 cents to USD 104.63 a barrel on the New York Mercantile Exchange. (PTI)


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