Crude oil futures prices were up by Rs 49 to Rs 4,597 per barrel today on increased buying by speculators triggered by a firming global trend.
Trading sentiment remained better after crude oil rose to the highest in almost 12 weeks in New York as investors bet that signs of economic growth indicate fuel demand will increase.
At the Multi Commodity Exchange, crude oil for delivery in November month rose Rs 49 or 1.12 per cent to Rs 4,597 per barrel with a business turnover of 46,985 lots.
Similarly, the oil for delivery in December moved up by Rs 45 or 0.99 per cent to Rs 4,605 per barrel with a trade volume of 4,466 lots.
Traders said that the rise in crude oil futures was due to a rising global trend and increased buying by speculators.
Meanwhile, crude oil gained 80 cents to $92.07 a barrel on the New York Mercantile Exchange.
Keywords: crude oil futures, speculators, buying, global trend
