Crude oil futures rise 1% on firm global trend

NEW DELHI, Jan 4:  Crude oil futures traded 1 per cent higher at Rs 3,942 per barrel in futures market today as speculators widened their bets, taking positive cues from global market.
At the Multi Commodity Exchange, crude oil for delivery in January rose Rs 39, or one per cent, to Rs 3,942 per barrel in a business turnover of 5,206 lots.
Likewise, the oil for delivery in February was trading higher by Rs 33, or 0.84 per cent, to Rs 3,939 per barrel in 216 lots.
Analysts said, speculators widened their positions on the back of a firm trend overseas ahead of the inventory data and as ongoing anti-government protests in Iran raised the prospect of supply disruptions.
Meanwhile, West Texas Intermediate gained 0.10 per cent, to USD 60.43 per barrel, while Brent crude rose 0.03 per cent at USD 66.59. (PTI)


Please enter your comment!
Please enter your name here