Crude oil rose 1.53 per cent to Rs 3,779 per barrel in futures market Monday as speculators created fresh bets, taking positive cues from global markets. On the Multi Commodity Exchange, crude oil for delivery in June contracts was trading higher by Rs 57, or 1.53 per cent, to Rs 3,779 per barrel in a business turnover of 18,941 lots.
Speculators built fresh positions on expectations of tighter global crude supplies amid reports that Saudi Arabia said Opec and Russia were close to an agreement on extending supply-cuts. The prices also gained steam after US-Mexico averted a trade war allaying fears of the global slowdown.
No comments:
Post a Comment