Crude oil futures up 1.21 %
27 August 2013
Crude oil futures on the Multi Commodity Exchange rose 1.21 per cent to Rs6,951 per barrel today as speculators enlarged positions, tracking a firm trend in the Asian region.
Crude oil futures for September delivery traded Rs83 or 1.21 per cent higher at Rs6,951 per barrel, with a turnover of 4,578 lots.
Similarly, crude oil for October delivery was up Rs76 or 1.11 per cent at Rs6,944 per barrel, with a volume of 513 lots.
Market analysts attribute crude oil's firm trend in Asia to concerns over possible US military action against Syria over an alleged chemical weapons attack.
On the New York Mercantile Exchange, the benchmark West Texas Intermediate crude for October delivery was up 57 cents at $106.49 a barrel in the mid-morning trade.