SINGAPORE: Crude oil futures recovered 0.52 per cent to Rs 3,305 per barrel today as speculators created positions amid a rebound in Asian trade.
At Multi Commodity Exchange, crude for delivery in July gained Rs 17, or 0.52 per cent, to Rs 3,305 per barrel, with a business turnover of 4,028 lots.
The oil for August delivery moved up by Rs 14, or 0.42 per cent, to Rs 3,347 per barrel, with a business volume of 319 lots.
Marketmen said the rise in crude oil futures was largely in tune with the rebound in Asian trade after tumbling on Tuesday following Iran’s landmark nuclear deal with major powers.
Meanwhile, West Texas Intermediate crude prices for August delivery advanced 39 cents to USD 51.80 while Brent crude for August gained 45 cents to USD 57.50 a barrel in late-morning trade on the New York Mercantile Exchange.
