Crude oil futures recovers by 0.08 pct on widening traders bets

Crude oil futures recovered by 0.08 per cent to Rs 3,626 per barrel Monday after participants widened their bets, tracking a firm trend in Asia.

At the Multi Commodity Exchange, crude oil for delivery in December was trading higher by Rs 3, or 0.08 per cent, to Rs 3,626 per barrel with a business turnover of 1,968 lots.

Marketmen attributed rise in crude oil futures to raising of bets by traders in line with a firming trend overseas.

Meanwhile, West Texas Intermediate crude prices rose by 1.35 per cent, to USD 51.07 a barrel while Brent crude, the international benchmark, was up 1.16 per cent at USD 59.96 per barrel on the New York Mercentile Exchange.

(With inputs from agencies.)