Crude oil futures gain 0.33% to 4580 per barrel on positive global cues
At the Multi Commodity Exchange, crude oil for delivery in September rose by Rs 15, or 0.33 per cent, to Rs 4,580 per barrel in a business turnover of 16 lots.
Marketmen said sentiment bolstered after oil prices rose in global markets, recouping a portion of the losses of the last two days that were driven by reports showing surprise gains in US inventories of crude, along with mounting concern over trade friction between the US and China.
Meanwhile, West Texas Intermediate crude prices went up by 12 cent, or 0.18 per cent, to USD 67.78 a barrel while Brent crude edged up by 16 cent, or 0.22 per cent, to USD 72.55 a barrel on the New York Mercantile Exchange.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)