Crude oil futures prices rose marginally by 0.19 per cent to Rs 6,421 per barrel today as speculators enlarged their positions, tracking a firm trend in the Asian region.
On the Multi Commodity Exchange, crude oil prices for delivery in August traded higher by Rs 12 or 0.19 per cent at Rs 6,421 per barrel with a business turnover of 4,789 lots.
Similarly, the crude oil prices for September delivery were also up by Rs 8 or 0.13 per cent to Rs 6,401 per barrel with a business volume of 432 lots.
Market analysts said the rise in crude oil futures was supported by a firm trend in Asia as the US Federal Reserve’s view that the economy was growing modestly, eased fears that it would soon wind down its huge stimulus programme.
Meanwhile, West Texas Intermediate crude prices for September delivery gained 34 cents to $105.37 a barrel in mid-morning trade on the New York Mercantile Exchange today.
