Crude oil futures up on Asian cues
SamuelWard 
27
NEW DELHI: Crude oil futures rose 1.30 percent in rupee terms to touch Rs 3, 580 a barrel today as speculators’ positions widened, following a strong trend across Asia.
Crude oil prices on the Korea Mercantile Exchange (KMEX)1 rose 46 months Rupees, or 1.30%, to 2,789 lots, or Rs 3,580 per barrel.
In February, crude oil prices also rose by Rs 44 (1.23%) to Rs 3,630 per barrel with 111 lots traded. Market participants said the rise in crude oil futures was largely in line with improving trade trends in Asia. Asian crude prices are expected to rise on improved U.S. economic data, but analysts said gains will be curbed due to traders’ restrictions on liquidating positions.
Meanwhile, in early trading in New York, West Texas Intermediate crude for February delivery was up 51 cents at $55.77 a barrel, while Brent crude was up 29 cents at $60.40 a barrel. York Mercantile Exchange.
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