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Crude oil futures up on global cues

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Press Trust of India New Delhi

Crude oil futures prices rose Rs 23, or 0.62 per cent, to Rs 3,713 per barrel today, as speculators enlarged their positions in tandem with the firming global trend.

At the Multi Commodity Exchange platform, crude oil for delivery in October-month rose by Rs 23, or 0.62 per cent, to Rs 3,713 per barrel, with a business turnover of 133 lots.

Similarly, the oil for delivery in November moved up by Rs 21, or 0.56 per cent, to Rs 3,762 per barrel, clocking a turnover of 11 lots.

Analysts said speculators enlarged their positions on a firming global trend, which mainly led to a rise in crude oil prices in futures trade here.

Meanwhile, New York's November contract for crude oil gained 71 cents to USD 83.72 per barrel.

 

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First Published: Oct 14 2010 | 2:12 PM IST

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