ET:Crude oil up marginally in futures trade on global cues
NEW DELHI: Taking positive cues from global markets, crude prices recovered by 0.12 per cent to Rs 4,026 per barrel in futures trade today.
Market analysts said a firming trend overseas, with crude was hovering above $ 87 a barrel today in Asia amid signs of improving consumer demand in the US, the worlds' largest consumer of crude, supported the upside in crude futures trade here.
At the Multi Commodity Exchange, crude oil for delivery in September was trading Rs 5, or 0.12 per cent, higher at Rs 4,026 per barrel, with a business turnover of 1,741 lots.
Similarly, oil for delivery in October moved up by Rs 3, or 0.10 per cent, to Rs 4,054 per barrel, with a trade turnover of 232 lots.
Globally, crude for October delivery added 22 cents to $ 87.49 a barrel in morning trade on the New York Mercantile Exchange today.
