Crude oil futures rise 0.6 pc on positive cues
Analysts said, crude oil prices bounced back in tandem with a firm trend overseas.
![Though Dubai depends less on oil income, fluctuations in crude oil prices have affected all sectors of its economy. The slowdown took its toll on the small and unorganised sectors in the form of unpaid outstanding dues for companies, unpaid wages for workers and large scale job losses. Though Dubai depends less on oil income, fluctuations in crude oil prices have affected all sectors of its economy. The slowdown took its toll on the small and unorganised sectors in the form of unpaid outstanding dues for companies, unpaid wages for workers and large scale job losses.](https://s3.ap-southeast-1.amazonaws.com/images.asianage.com/images/aa-Cover-6fdak0ar1lvlr0bp4bjb2h40i3-20180702051152.Medi.jpeg)
On the Multi Commodity Exchange, crude oil contracts for delivery in May gained Rs 48, or 1.13 per cent, to Rs 4,312 per barrel with a business turnover of 17,678 lots.
New Delhi: Crude oil prices rose 0.6 per cent to Rs 4,352 per barrel in futures trade Monday as speculators raised their exposure amid positive trend in global markets.
On the Multi Commodity Exchange, crude for delivery in May contracts went up by Rs 26, or 0.6 per cent to, Rs 4,352 per barrel in a business turnover of 17,376 lots.
Analysts said, crude oil prices bounced back in tandem with a firm trend overseas.
Meanwhile, West Texas Intermediate crude prices rose 0.16 per cent to USD 61.76, while Brent was up 0.54 per cent at USD 71 a barrel at the New York Mercantile Exchange.
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