Crude oil futures climb 0.77 pc on global cues

Crude oil rose 0.77 per cent to Rs 3,151 per barrel in futures market today as speculators created fresh bets, taking positive cues from overseas markets.
At Multi Commodity Exchange, crude oil for delivery in June spurted by Rs 24, or 0.77 per cent, to Rs 3,151 per barrel, in a business turnover of 4,439 lots.
Likewise, the oil for delivery in July traded higher by Rs 22, or 0.70 per cent, to Rs 3,178 per barrel in 219 lots.
Analysts said speculators built fresh positions after oil prices rose overseas. This mainly led to the rise in crude oil prices in futures trade here.

Meanwhile, West Texas Intermediate gained 48 cents to USD 48.80 on the New York Mercantile Exchange. Brent crude advanced 45 cents to USD 51.21 a barrel.