Continuing its rising streak, crude oil futures prices rose another 0.43 per cent to Rs. 6,488 per barrel today after participants indulged in creating speculative positions, tracking a firm trend in Asia.
On the Multi Commodity Exchange, crude oil for delivery in July traded higher by Rs. 28 or 0.43 per cent at Rs. 6,488 per barrel with a business turnover of 2,020 lots.
Similarly, the oil for August contract also moved up by Rs. 25 or 0.39 per cent to Rs. 6,467 per barrel with a business volume of 65 lots.
Market analysts attributed the persistent rise in crude oil futures to a firm trend in Asia on continued violence in Iraq.
Meanwhile, US benchmark West Texas Intermediate was up 31 cents at $107.14, while Brent crude gained 35 cents to $115.16 in mid-morning trade. PTI