NEW DELHI, Aug 19: Crude oil futures recovered 0.50 per cent to Rs 5,873 per barrel today as speculators created positions amid a rebound in Asian trade after tumbling on easing concerns about conflicts in Ukraine and Iraq.
At the Multi Commodity Exchange, crude oil for delivery in August gained Rs 29, or 0.50 per cent, to Rs 5,873 per barrel, with a business turnover of 596 lots.
The oil for September delivery moved up by Rs 16, or 0.28 per cent, to Rs 5,753 per barrel, with a business volume of 548 lots.
Marketmen said the rise in crude oil futures was largely in tune with rebound in Asian trade on bargain-hunting after tumbling on easing concerns about conflicts in Ukraine and Iraq.
Meanwhile, West Texas Intermediate crude prices for September delivery advanced by 38 cents to USD 96.79, while Brent crude for October gained 22 cents to USD 101.82 a barrel in late-morning trade on the New York Mercantile Exchange. (PTI)
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