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Mumbai, Dec. 11

Aided by the volatile crude oil prices, MCX posted a record volume of 16.68 million barrels on Thursday. The total turnover was Rs 1,266 crore. The previous record was of 14.78 million barrels registered on December 2, 2008. Average open interest in November was 1.60 million barrels against 1 million barrel in October. Open interest was 2.80 million on December 10. Crude oil for December delivery hit a high of Rs 2,229 a barrel and low of Rs 2,115 a barrel before ending th e day at Rs 2,211 a barrel against the previous close of Rs 2,203, registering a gain of Rs 8 during the first of the trading session on Thursday. The January contract closed was up Rs 17 at Rs 2,354, while the contract for February delivery rose by Rs 9 to Rs 2,469 amid volatile trading. Crude oil prices in India are directly exposed to volatility in international oil prices. Mr. Joseph Massey, Managing Director, MCX said: “The rising open interest in the crude oil futures shows that the actual physical market users across petrochemical sector are hedging their risk.” —

Our Bureau

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