Crude oil futures rose by 0.37% to Rs 5,774 per barrel today as speculators created fresh positions, tracking a firming trend in Asia.
At the Multi Commodity Exchange, crude oil for delivery in February traded Rs 21, or 0.37%, higher at Rs 5,774 per barrel, with a business turnover of 304 lots.
The oil for January also moved up by Rs 20, or 0.35%, to Rs 5,725 per barrel, with a business volume of 2,416 lots.
Market analysts said the rise in crude oil futures can be attributed to a rebound from eight-month low in Asia on bargain hunting and growing concerns over the intensifying conflict in South Sudan.
Meanwhile, crude oil for February delivery added 74 cents to $92.40 a barrel at the New York Mercantile Exchange.
