Crude Oil prices rose by 0.68 percent on Wednesday at the domestic markets despite signs that US crude supplies had registered another heavy build last week, investors were more confident that oil prices have hit a bottom after a seven-month rout. Traders said oil bulls were encouraged by BP's plan to cut capital expenditures 13 percent in 2015, which came after reductions announced by other major energy companies. At the MCX, crude oil futures for February 2015 contract were trading at Rs. 3,248 per barrel, up by 0.68 percent, after opening at Rs. 3,236 against the previous closing price of Rs. 3,226. It touched the intra-day high of Rs. 3,257 till the trading.
Lead prices fell by 0.48 percent on Wednesday at the domestic markets as a result of low demand for the commodity from battery-maker in the spot market in the midst of weak overseas trend. At the MCX, Lead futures, for the February 2015 contract, is trading at Rs 113.85 per kg, down by 0.48 percent, after opening at Rs 114.30, against a previous close of Rs 114.40. It touched an intra-day low of Rs 113.65 till the trading.
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