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Crude oil futures up 0.39% on overseas cues

Fresh positions by speculators supported the trade

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Press Trust of India New Delhi

Crude oil futures for February gained Rs 20, or 0.39%, to Rs 5,196 per barrel in 1,556 lots.

At the Multi Commodity Exchange, the January contract moved up by Rs 19, or 0.37%, to Rs 5,155 per barrel in 7,551 lots.

Fresh positions by speculators supported the crude oil futures.

Firming trend in Asia as a completed US pipeline expansion project reducing oversupplied US inventory stocks triggered the uptrend.

On the New York Mercantile Exchange, the February contract advanced by 60 cents to $ 94.16 per barrel.

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First Published: Jan 14 2013 | 2:41 PM IST

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