Crude oil rose 0.67 per cent to Rs 4,799 per barrel in futures market today as speculators indulged in enlarging positions even as it dipped from recent highs in global markets.
At Multi Commodity Exchange, crude oil for delivery in June spurted by Rs 32, or 0.67 per cent to Rs 4,799 per barrel, in a business turnover of 115 lots.
Likewise, the oil for delivery in May traded higher by Rs 31, or 0.65 per cent, to Rs 4,788 per barrel in 1,517 lots.
Analysts said raising of bets by participants mainly lifted crude oil prices further higher at futures trade here but crude dipping from recent highs on hopes of alternatives to Iran supply, capped the gains.
Meanwhile, West Texas Intermediate fell 0.11 per cent, to USD 71.28 on the New York Mercantile Exchange. Brent crude too shed 0.23 per cent to USD 77.29 a barrel.