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Last Updated : Aug 16, 2019 01:50 PM IST | Source: PTI

Crude oil futures up on positive cues

Analysts said speculative positions created by traders led to rise in oil prices.

Crude oil prices rose by Rs 18 to Rs 3,932 per barrel in futures market on August 16 as speculators created fresh positions taking positive cues from global markets.

On the Multi Commodity Exchange, crude for delivery in August was trading higher by Rs 18, or 0.46 percent, at Rs 3,932 per barrel in a business turnover of 23,819 lots.

Analysts said speculative positions created by traders led to rise in oil prices.

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Globally, West Texas Intermediate was trading up 1.10 percent to USD 55.07, while global benchmark Brent was up 1.03 percent to USD 58.83 per barrel.

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First Published on Aug 16, 2019 01:40 pm
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