Crude oil traded higher in futures trade
Taking cues from overseas markets, the crude oil rose by 0.63 per cent in futures markets at opening trade on Tuesday as stockists enlarged their positions.business Updated: Jul 15, 2008 12:29 IST
Taking cues from overseas markets, the crude oil rose by 0.63 per cent in futures markets at opening trade on Tuesday as stockists enlarged their positions.
The crude for current month July contract rose by 0.63 per cent at Rs 6245 per barrel on the Multi Commodity Exchange at 1130 hrs.
The oil for August contract rose by 0.53 per cent at Rs 6,265 per barrel while September contract rose by 0.38 per cent at Rs 6,278 per barrel.
Trading activity in crude oil went up in futures market here after its prices on the global front regained a crucial level of 145 dollar a barrel as production in Brazil was disrupted after a strike by employees of state oil company Petroleo Brasileiro.