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Crude oil futures gain on firm global cues

twitter-logo PTI        Last Updated: January 7, 2019  | 11:53 IST

New Delhi, Jan 7 (PTI) Crude oil futures rose by Rs 34 to Rs 3,382 per barrel Monday as speculators raised bets amid a firm trend overseas. At the Multi Commodity Exchange, crude oil for delivery in January was up Rs 34, or 1.02 per cent, at Rs 3,382 per barrel, with a business turnover of 10,911 lots. Analysts said building up of positions by participants, tracking a firm trend in global market, lifted by optimism that talks could soon resolve the trade war between the US and China, while supply cuts by major producers also supported the rise in crude futures here. Meanwhile, US benchmark West Texas Intermediate crude prices were up by 1.48 per cent, at USD 48.67 and Brent crude, the international benchmark, rose 1.23 per cent, to USD 57.76 a barrel. PTI SUN RUJ SUN ADI ADI

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