Analysts said speculative positions created by traders led to the rise in oil prices.
PTI
@moneycontrolcom
Crude oil prices rose by Rs 12 to Rs 3,708 per barrel in futures market on August 9 as speculators created fresh positions, taking positive cues from global markets.
On the Multi Commodity Exchange, crude for delivery in August contracts was trading higher by Rs 12, or 0.32 percent, at Rs 3,708 per barrel in a business turnover of 23,819 lots.
Analysts said speculative positions created by traders led to the rise in oil prices.
Globally, West Texas Intermediate was trading up 0.11 percent to USD 52.60, while global benchmark Brent was up 0.09 percent to USD 57.43 per barrel.Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months at 289. Use code FREEDOM.
First Published on Aug 9, 2019 01:47 pm
