Crude Oil Futures Jump To Rs three,722 Per Barrel
Crude oil prices traded greater by 0.Forty nine per cent to Rs 3,722 per barrel at the futures commerce as speculators widened their bets owing to positive cues from world market.
On the Multi Commodity Trade, crude oil for supply in January rose Rs 18 or 0.49 per cent to Rs three,722 per barrel in a enterprise turnover of 28 heaps. Likewise, the oil for natural gas fracking supply in the current month was buying and selling larger by Rs 17 or zero.Forty six per cent at Rs 3,709 per barrel in 28 lots.
Analysts mentioned speculators widened their positions natural gas fracking on the again of a agency development in Asian trade as business knowledge confirmed a larger-than-anticipated drawdown in US crude stockpiles. Meanwhile, West Texas Intermediate gained 0.6 per cent to $57.50 per barrel, whereas Brent crude rose 50 cents to $63.Eighty four.