Crude oil futures rise on global cues

Crude oil prices rose by Rs 27 to Rs 4,181 per barrel in futures trade today as speculators enlarged their positions, amid firming global trend.

At the Multi Commodity Exchange counter, crude oil for March-month rose by Rs 27, or 0.65 per cent to Rs 4,181 per barrel, with a business turnover of two lots.

Similarly, the oil for delivery in January rose by Rs 17, or 0.42 per cent to Rs 4,075 per barrel, with a business volume of 75 los.Z

Traders said speculators enlarged their positions on firming global trend, which led to a rise in crude oil futures prices. 

Meanwhile, crude oil prices in New York gained nine cents to $89.46.