(MC)
Crude oil prices touched a fresh 52-week high during intraday on the MCX after talks between OPEC and its oil-producing allies were postponed indefinitely, with the group failing to reach an agreement on production policy for August and beyond. The oil price jumped on fears of the tighter market due to higher demand following the recovery in global demand amid stalled OPEC decision.
The energy commodity traded in positive territory after a gap-up start tracking the strong overseas cues.On the MCX, crude oil delivery for July soared Rs 14, or 0.25 percent, to Rs 5,701 per barrel at 16:28 hours IST with a business turnover of 10,891 lots. The delivery for August edged higher Rs 17, or 0.30 percent to Rs 5,661 per barrel with a business volume of 627 lots.
