Crude oil inches up in futures trade

Thursday, Mar 30, 2017,12:11 IST By anju A A A

New Delhi | Crude oil futures traded Rs 27 higher at Rs 3,238 per barrel on Thursday as speculators created positions amid a firm trend in Asia.

At the Multi Commodity Exchange, crude oil for delivery in April gained Rs 27, or 0.84 per cent, to Rs 3,238 per barrel, with a business turnover of 4,322 lots.

The oil for delivery in far-month May moved up Rs 24, or 0.74 per cent, to Rs 3,278 per barrel, with a business volume of 127 lots.

Marketmen said a firm trend in Asia where oil prices surged after the latest Energy Information Administration (EIA) report showed a smaller than expected rise in the US crude stockpiles, while output disruptions in Libya continued to lift sentiment, influenced crude prices at futures trade here.

West Texas Intermediate crude prices for delivery in May advanced 18 cents or 0.36 per cent to USD 49.69 and Brent crude for May was 10 cents or 0.19 per cent higher at USD 52.52 a barrel on the New York Mercantile Exchange.