Home / MCX Energy / Crude oil futures firm up 0.52% on Asian cues

Crude oil futures firm up 0.52% on Asian cues

Prices of crude oil futures rose 0.52 percent to Rs 6,192 per barrel today as speculators created new positions, tracking a firming trend in Asia on supply concerns.

At MCX, crude for January delivery quoted by Rs 32, or 0.42 percent, higher at Rs 6,192 per barrel, with a business volume of 1,479 lots.

Crude oil for February delivery also rose by Rs 25, or 0.40 per cent, to Rs 6,230 per barrel, with a business volume of 75 lots.

Market observers attributed the surge in crude oil futures to a firming trend in Asia on supply concerns following the escalation of violence in the oil-producing South Sudan, but gains were limited as traders sat on the bench awaiting fresh leads after the festive season.

While, at NYMEX crude for February delivery rose 27 cents to $ 99.49 a barrel, while Brent North Sea for February gained 20 cents to $ 112.10.

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About Narmada Ji

Myself Technical Analyst and Owner Investment Growth Services (100mcxtips.com). 100McxTips is a Market Leader MCX Commodity Advisory, which has a strong hold in offering trusted MCX Tips and accurate as well as Commodity Market Tips. For more mcx, commodity market news by 100McxTips, follow us on Twitter @100mcxtips and on Facebook at facebook.com/100mcxtips.

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