 "Crude oil up 1.1% on Asian cues")
Crude oil futures rose 1.13% to Rs 6,361 per barrel today as speculators created fresh positions amid a firming trend in Asia.
At the Multi Commodity Exchange, crude oil for delivery in June gained Rs 71, or 1.13%, to Rs 6,361 per barrel, with a business turnover of 2,056 lots.
The oil for July delivery also moved up by Rs 70, or 1.12%, to Rs 6,342 per barrel in a turnover of 359 lots.
Meanwhile, West Texas Intermediate (WTI) crude oil advanced 73 cents to $107.26 per barrel in late morning Asian trade, after surging USD 2.13 in New York yesterday to reach its highest level since September.
At the Multi Commodity Exchange, crude oil for delivery in June gained Rs 71, or 1.13%, to Rs 6,361 per barrel, with a business turnover of 2,056 lots.
The oil for July delivery also moved up by Rs 70, or 1.12%, to Rs 6,342 per barrel in a turnover of 359 lots.
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Marketmen said the rise in crude oil futures was largely in tandem with a firming trend in Asia on concerns about the growing crisis in Iraq that fuelled fears over supplies from the major crude producer.
Meanwhile, West Texas Intermediate (WTI) crude oil advanced 73 cents to $107.26 per barrel in late morning Asian trade, after surging USD 2.13 in New York yesterday to reach its highest level since September.