 "Crude oil nears $50")
Crude
prices recovered by 0.25 per cent to Rs 518.40 per 10 kg in futures trade on Friday as participants built up fresh positions, driven by pick-up in demand in the spot market.
At the Multi Commodity Exchange, crude palm oil for delivery this month edged up by Rs 1.30, or 0.25 per cent to Rs 518.40 per 10 kg in a business turnover of 135 lots.
Similarly, the oil for delivery in November traded higher by 20 paise, or 0.04 per cent to Rs 498.20 per 10 kg in 68 lots.
Analysts attributed the rise in crude palm oil prices at futures trade to building up of fresh positions by traders due to uptick in demand in the spot market against restricted supplies from growing regions.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
