Crude oil marginally up in futures trade on overseas cues

NEW DELHI, Sept 24: Crude oil futures edged higher by Rs 3 to Rs 3,045 per barrel today as speculators went about creating positions amid a firm trend overseas.

In futures trading at the Multi Commodity Exchange, crude oil for delivery in November was up by Rs 3, or 0.10 per cent, at Rs 3,045 per barrel, with a business turnover of 122 lots.

The oil for delivery in October gained Rs 2, or 0.07 per cent, to Rs 2,985 per barrel in a turnover of 2,443 lots.

Analysts said the rise in crude oil futures was largely in tandem with a firming trend in Asia after taking a hit in the previous session in response to a mixed US stock report.

Meanwhile, West Texas Intermediate crude prices rose USD 44.88 while Brent added USD 0.67 per cent to USD 48.07 per barrel at the New York Mercantile Exchange. (PTI)

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