Crude oil prices rose by Rs 12, or 0.36 per cent to Rs 3,387 per barrel in futures trade today, as speculators indulged in fresh buying on the back of firming global trend.
Trading sentiment turned better after oil bounced back from seven-month lows in Asian trade as cheaper prices spurred investors back into the buying mode.
At the Multi Commodity Exchange, crude oil for June-month contract rose Rs 12, or 0.36 per cent to Rs 3,387 per barrel, with an open interest of 9,442 lots.
The oil for delivery in May contract also gained Rs 10, or 0.31 per cent to Rs 3,228 per barrel, with a business turnover of 26,304 lots.
The fresh rise in crude oil prices was due to a firming global trend and fresh buying by speculators, traders said.
Meanwhile, crude for delivery in June, added 57 cents to $70.65 a barrel in New York.