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Crude futures prices up in Asian trade on Fed stimulus taper

Crude futures higher by 0.24% to Rs 6,145 per barrel today in Asian trade as global markets reeled from the Federal Reserve’s decision to cut its massive stimulus package.

At  at 12:00 IST January 30, 2014 on  MCX, crude for February delivery was quoted Rs 14, or 0.24%, higher at Rs 6,145 per barrel.

Market observers said that the mixed performance of oil prices came as Asian stock markets slumped, extending a global rout on renewed fears about emerging economies after the Fed stimulus cut.

Meanwhile,  on NYMEX main contract West Texas Intermediate crude for March delivery gained 17 cents to $97.52 in late morning trade, while Brent North Sea crude for March delivery was down four cents at $107.81.

Reported News Source: The Hindu Business Line

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