Tracking a firming global trend, crude oil prices rose by 0.79% to Rs 4,858 per barrel in futures trading on Tuesday as speculators enlarged their positions.
At the multi commodity exchange, crude oil for delivery in July rose by Rs 38, or 0.79%, to Rs 4,858 per barrel, with a business turnover of 11,527 lots.
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Similarly, the oil for delivery in August edged higher by Rs 37, or 0.76%, to Rs 4,900 per barrel in 1,969 lots.
Marketmen attributed the rise in crude oil futures to a firming trend in Asian trade on hopes that China and the US
will take new steps to bolster their economies.
Meanwhile, crude oil for August delivery climbed 17 cents to $88.60 a barrel on the New York Mercantile Exchange.
Stay updated with the latest Business News, stock market updates, petrol and diesel prices, gold and silver rates, income tax updates and major developments from India and across the world.
Stay updated with the latest Business News, stock market updates, petrol and diesel prices, gold and silver rates, income tax updates and major developments from India and across the world.
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