MCX Crude oil futures down by 0.5% to Rs 6,058 per barrel in Asian trade.
Oil prices rebounded in Asian trade today on bargain hunting following sharp falls stoked by turbulence in global financial markets, as nervous traders await the US Federal Reserve’s next move on its stimulus programme.
At MCX, crude oil for February delivery declined 30 rupees, or 0.5% to Rs 6,058 per barrel.
New York’s main contract, West Texas Intermediate (WTI) for March delivery, was up nine cents at $95.81 in mid-morning trade while Brent North Sea crude for March gained 26 cents at $106.95.
Reported News Source: PTI Economic Times