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11-Mar2019

Crude oil futures trade higher on firm trend overseas

Crude oil futures traded higher on MCX as speculators enlarged their bets, tracking firm trend overseas after comments from Saudi Arabia oil minister Khalid al-Falih that an end to OPEC-led supply cuts was unlikely before June and a report showing a fall US drilling activity.

The contract for March delivery was trading at Rs 3943.00, up by 1.47% or Rs 57.00 from its previous closing of Rs 3886.00. The open interest of the contract stood at 12087 lots.

The contract for April delivery was trading at Rs 3986.00, up by 1.45% or Rs 57.00 from its previous closing of Rs 3929.00. The open interest of the contract stood at 899 lots on MCX.


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