Crude oil futures prices rose 0.58 per cent to Rs 4,875 per barrel today as speculators created fresh positions amid a firm trend in Asia.
At the Multi Commodity Exchange, crude oil for delivery in December gained Rs 28 or 0.58 per cent to Rs 4,875 per barrel with a business turnover of 13,628 lots.
Similarly, the oil for January delivery moved up by Rs 27 or 0.55 per cent to Rs 4,932 per barrel with a business volume of 1,347 lots.
Market participants said the rise in crude oil futures was on account of a firm trend in Asia on signs that China’s economy may be picking up after a prolonged slowdown.
Meanwhile, crude oil for January delivery advanced by 11 cents to $89.02 a barrel on the New York Mercantile Exchange.
