Crude climbs to 10-week high

Nifty BSE | NSE 17/02/12 Are Mutual Funds betting on Nifty?

Crude climbed to a 10-week high after the US government reported that imports fell to a seasonal low and fuel inventories dropped more than analysts forecast. Prices surge 1.5% higher at USD 82.93 per barrel. Currently it is trading at USD 82.62 per barrel.

Base metals held at firmer levels near intraday highs, copper rose extending an advance from a two-week low, as the dollar declined, increasing demand for the metal as an alternative investment. Most other base metals are also in positive territory.