Crude oil futures rise 0.40% on global cues 21/03/2017


Crude oil futures rise 0.40% on global cues
21/03/2017 13:41
Crude oil futures were trading higher during afternoon trade in the domestic market on Tuesday as investors and speculators extended their positions in the energy commodity on weakness in the US dollar after Chicago Fed President Charles Evans reinforced the perception that the US central bank won't accelerate the pace of its interest rate hikes. The dollar hurt after the Fed's Evans on Monday repeated the central bank's call for two more interest rate increases this year. At the MCX, crude oil futures for April 2017 contract is trading at Rs 3231 per barrel, up by 0.40 per cent, after opening at Rs 3230, against a previous close of Rs 3218. It touched the intra-day high of Rs 3232 (at 13:36 hours).