 "Crude oil climbs up by 0.53%")
Crude oil futures swung 0.53% higher to Rs 3,762 per barrel today as speculators got down to creating positions even as it fell in Asian trade after OPEC decided to maintain its output level.
At Multi Commodity Exchange, crude oil for delivery in June was up Rs 20, or 0.53%, to Rs 3,762 per barrel, with a business turnover of 2,079 lots.
The oil for delivery in July also rose Rs 18, or 0.47%, to trade at Rs 3,812 per barrel in a turnover of 245 lots.
Analysts said the rise in crude oil futures was largely supported by speculative positions by participants even as it declined in Asian trade after OPEC decided to maintain its high production.
Meanwhile, West Texas Intermediate crude prices for July delivery fell 59 cents to $58.84 while Brent crude for July eased 56 cents to $62.75 per barrel in mid-morning trade at the New York Mercantile Exchange.
At Multi Commodity Exchange, crude oil for delivery in June was up Rs 20, or 0.53%, to Rs 3,762 per barrel, with a business turnover of 2,079 lots.
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The oil for delivery in July also rose Rs 18, or 0.47%, to trade at Rs 3,812 per barrel in a turnover of 245 lots.
Analysts said the rise in crude oil futures was largely supported by speculative positions by participants even as it declined in Asian trade after OPEC decided to maintain its high production.
Meanwhile, West Texas Intermediate crude prices for July delivery fell 59 cents to $58.84 while Brent crude for July eased 56 cents to $62.75 per barrel in mid-morning trade at the New York Mercantile Exchange.