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DEC 18 2012

Crude oil futures rise to Rs 4,742 per barrel

  • Economic Times, ET Bureau / Hyderabad
  • Created: Tue 18th DEC 2012

Crude oil futures prices rose 0.3 per cent to Rs 4,742 per barrel today as speculators created fresh positions amid a firm trend in Asia.

At the Multi Commodity Exchange, crude oil for delivery in December gained Rs 14 or 0.3 per cent to Rs 4,742 per barrel with a business turnover of 5,870 lots. Similarly, the oil for January delivery moved up by Rs 13 or 0.27 per cent to Rs 4,801 per barrel with a business volume of 1,303 lots.

Marketmen said the rise in crude oil futures was largely in tandem with a firming trend in Asia on expectations of a hike in Chinese demand after a key survey showed its manufacturing activity hitting a 14-month high in December.

Meanwhile, crude oil for January delivery advanced by 23 cents to $86.98 a barrel on the New York Mercantile Exchange.

Tags

Multi Commodity Exchange New York Mercantile Exchange Asia

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