Crude oil futures prices recovered marginally by 0.07 per cent to Rs 4,529 per barrel today after speculators created fresh positions, tracking a firming trend in Asian trade.
At the Multi Commodity Exchange, crude oil for delivery in July gained Rs 3 or 0.07 per cent to Rs 4,529 per barrel with a business turnover of 8,735 lots. Similarly, August contract moved up by a similar margin to Rs 4,575 per barrel with a business volume of 475 lots.
Market analysts attributed the recovery in crude oil futures to a firming trend in Asian trade after a tropical storm spared production facilities in the Gulf of Mexico and Euro Zone worries resurfaced.
Meanwhile, crude oil for August delivery advanced by 12 cents to $79.33 a barrel on the New York Mercantile Exchange.
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