Crude oil futures up on positive cues
Analysts said speculative positions created by traders led to rise in oil prices.
By : DC Correspondent
Update: 2019-08-16 08:36 GMT
New Delhi: Crude oil prices rose by Rs 18 to Rs 3,932 per barrel in futures market on Friday 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 per cent, 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.
Globally, West Texas Intermediate was trading up 1.10 per cent to USD 55.07, while global benchmark Brent was up 1.03 per cent to USD 58.83 per barrel.