Crude oil futures rise on firm global cues

Tracking firming global trend, crude oil prices surged by Rs 35 to Rs 4,235 per barrel in futures trade today on emergence of buying by speculators.  

At the Multi Commodity Exchange counter, crude oil for May delivery surged by Rs 35, or 0.83 per cent to Rs 4,235 per barrel, with a business turnover of single lot.

Similarly, the oil for delivery in December-month contract rose by Rs 27, or 0.67 per cent to Rs 4,034 per barrel, with a business turnover of 64 lots. 

Market experts said fresh positions created by speculators on the back of firming global trend mainly led to a rise in crude oil futures prices. 

Meanwhile, New York's main contract, crude for January delivery, was up 79 cents to $89.07 a barrel.