Crude oil futures prices rose by 0.48 per cent to Rs 4,865 per barrel today as speculators created fresh positions amid a firm trend in Asia.
At the Multi Commodity Exchange, crude oil for delivery in January gained Rs 23, or 0.48 per cent, to Rs 4,865 per barrel, with a business turnover of 3,794 lots.
The oil for December delivery moved up by Rs 22, or 0.46 per cent, to Rs 4,808 per barrel, with a business volume of 7,710 lots.
Marketmen said the rise in crude oil futures was largely in tandem with a firming trend in Asia with hopes rising of a US deal to avert the fiscal cliff after a meeting between President Barack Obama and top Republican lawmaker John Boehner.
Meanwhile, crude oil for January delivery advanced by 37 cents to USD 87.58 a barrel on the New York Mercantile Exchange.
