Crude oil futures up on fresh buying support

New Delhi:

Crude oil prices rose by Rs 22 to Rs 4,918 per barrel in futures trade on Thursday as speculators enlarged their position on pick-up in spot demand.

At the Multi Commodity exchange, crude oil for delivery in June gained Rs 22, or 0.45 per cent, to Rs 4,919 per barrel, with a business turnover of 20 lots.

Likewise, the oil for delivery in April moved up by Rs 15, or 0.31 per cent, to Rs 4,809 per barrel, with an open interest of five lots.

Traders attributed the rise in crude oil futures prices to fresh buying by speculators on pick-up in demand in the spot market.

(Source: http://www.indianexpress.com/news/Crude-oil-futures-up-on-fresh-buying-support/773018)