Crude oil futures up on global cues

Taking positive cues from overseas, crude oil futures prices rose by Rs 15 to Rs 3,846 per barrel today.

At the Multi Commodity Exchange, crude oil for February contract rose by Rs 15, or 0.39 per cent, to Rs 3,846 per barrel, with a business volume of 64 lots.

Similarly, the oil for delivery in March contract moved up by Rs 7, or 0.17 per cent, to Rs 4,016 per barrel, with a trade volume of 15 lots.

Market analysts said positions enlarged by speculators in tandem with firming global trend, mainly influenced crude oil prices at futures trade here.

Meanwhile, crude oil for March delivery gained 45 cents to $84.77 a barrel on the New York Mercantile Exchange.

(Source: http://www.business-standard.com/india/news/crude-oil-futures-upglobal-cues/125925/on)