ET:Crude oil remains up in futures trade on Asian cues
NEW DELHI: Crude oil futures prices today rose by 0.42 per cent to Rs 6,866 per barrel after speculators enlarged positions amid a firming trend in the Asian region.
At the Multi Commodity Exchange, crude oil prices for delivery in September traded Rs 29, or 0.42 per cent higher at Rs 6,866 per barrel, with a business turnover of 2,637 lots.
The crude oil prices for October also rose by a similar margin to trade at Rs 6,862 per barrel, with a business volume of 277 lots.
Market analysts attributed the rise in crude oil futures to a firming trend in Asia as disappointing US housing data tempered expectations of stimulus tapering by the Federal Reserve.
Meanwhile, West Texas Intermediate crude prices for October delivery rose 36 cents to USD 106.78 a barrel in mid-morning trade at the New York Mercantile Exchange.
