 "Crude oil up by 0.7% on overseas cues")
Crude oil futures prices rose 0.72% to Rs 3,764 per barrel today as speculators got down to enlarging positions, tracking a firming trend in Asia.
Crude oil for delivery in June traded higher by Rs 27, or 0.72%, at Rs 3,764 per barrel, with a business turnover of 1,241 lots at Multi Commodity Exchange.
The oil for July also moved up Rs 24, or 0.63%, to Rs 3,821 per barrel, with a business volume of 36 lots.
Meanwhile, West Texas Intermediate (WTI) crude prices for July delivery rose 47 cents to $58.46 while Brent crude for July gained 46 cents to $64.48 a barrel in late-morning trade on the New York Mercantile Exchange.
Crude oil for delivery in June traded higher by Rs 27, or 0.72%, at Rs 3,764 per barrel, with a business turnover of 1,241 lots at Multi Commodity Exchange.
The oil for July also moved up Rs 24, or 0.63%, to Rs 3,821 per barrel, with a business volume of 36 lots.
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Analysts said the rise in crude oil prices in futures trade is attributed to rebound in Asian trade following steep losses in the previous session, but gains were capped by a strong dollar and persistent concerns about a global supply glut.
Meanwhile, West Texas Intermediate (WTI) crude prices for July delivery rose 47 cents to $58.46 while Brent crude for July gained 46 cents to $64.48 a barrel in late-morning trade on the New York Mercantile Exchange.