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Crude oil futures up 1.11% on overseas cues

Monday, Dec 19, 2016,11:38 IST By metrovaartha A A A

New Delhi | Crude oil futures rose by 1.11 per cent to Rs 3,549 per barrel on Monday as speculators raised their bets amid a firm trend overseas.

In futures trade at the Multi Commodity Exchange, crude oil for delivery in December was trading higher by Rs 39, or 1.11 per cent, at Rs 3,549 per barrel in 1,291 lots.

On similar lines, crude for delivery in January 2017 rose Rs 34, or 0.95 per cent, at Rs 3,629 per barrel, in a business turnover of 177 lots.

Analysts said the rise in crude oil futures was largely in tandem with a firming trend in global market on the back of a weaker dollar.

Meanwhile, the US benchmark West Texas Intermediate crude prices rose 43 cents to USD 52.33 barrel and Brent crude added 41 cents to USD 55.62 a barrel.

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