Crude futures up 2.76 pc in early trade on MCX
Oil prices in the domestic futures market rose by 2.76 per cent in early trade on Friday on the back of rising prices in global markets on supply concerns.
By PTI |
NEW DELHI : Oil prices in the domestic futures market rose by 2.76 per cent in early trade on Friday on the back of rising prices in global markets on supply concerns.
At 1030 hrs, crude for most-active July contract shot up by 2.76 per cent to Rs 6,074 per barrel with business volume of 2468 barrels on the country's leading Multi Commodity Exchange.
Similarly, far-month August and September contract were also trading 2.69 and 2.58 per cent higher to Rs 6,101 and Rs 6,127 per barrel, respectively.
"Esclated geo-political tension after Iran test-fired missiles in the Persian Gulf and weaker US dollar mainly supporting the crude oil prices", G harish of Karvy Comtrade said.
Meanwhile, New York's main oil futures contract, light sweet crude for August delivery, was up 0.04 per cent at 141.78 US dollar a tonne at the New York Mercantile Exchange.
Meanwhile, New York's main oil futures contract, light sweet crude for August delivery, was up 0.04 per cent at 141.78 US dollar a tonne at the New York Mercantile Exchange.
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