IND: Crude Oil Near $77 In Asia, August Futures Expire On NYMEX Today
MCX Crude oil futures are trading in green in the early moves today, adding decent gains as the prices neared $77 levels in the Asian trades. The risky assets are having a good outing today as the US dollar stayed near 1.3000 against the Euro and the recent earnings numbers kept the hopes of a steady economic recovery alive. The commodity rose for a second day in New York yesterday on speculation that China's expanding economy will fuel demand growth and as the dollar dropped against the euro.
Crude oil for August delivery gained as much as 37 cents, or 0.5%, to $76.91 a barrel in electronic trading on the New York Mercantile Exchange. The counter currently trades at $76.73, up 19 cents from the previous close. Yesterday, the contract added 53 cents, or 0.7 percent, to $76.54. The August futures are expiring today.
MCX Crude oil futures for August trade at Rs 3648, up Rs 31 or 0.86% on the day. The counter should rise all the way till Rs 3672-80 zone if Rs 3655 is taken out.