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Last Updated : Jun 07, 2019 01:47 PM IST | Source: PTI

Crude oil futures up 3.88% on global cues

Analysts said raising of bets by participants on a strong overseas trend, coupled with good domestic demand, kept crude prices higher at futures trade here.

Crude oil futures rose 3.88 percent to Rs 3,721 per barrel on June 7 as speculators raised their bets on hardening of oil prices overseas.

At the Multi Commodity Exchange, crude oil contracts for June delivery traded higher by Rs 139, or 3.88 percent, at Rs 3,721 per barrel in 20,580 lots.

Analysts said raising of bets by participants on a strong overseas trend, coupled with good domestic demand, kept crude prices higher at futures trade here.

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Globally, the US benchmark West Texas Intermediate crude strengthened 1.54 percent to USD 53.40 per barrel, while Brent crude gained 1.51 percent to USD 62.60 per barrel.

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First Published on Jun 7, 2019 01:34 pm
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