Crude oil futures climb 2.48% on Asian cues

Crude oil soared 2.48 per cent to Rs 3,269 per barrel in futures market today as speculators created fresh bets, taking positive cues from Asian markets.
At Multi Commodity Exchange, crude oil for delivery in June spurted by Rs 79 or 2.48 per cent to Rs 3,269 per barrel, in a business turnover of 4,138 lots.
Likewise, the oil for delivery in July traded higher by Rs 78 or 2.40 per cent to Rs 3,324 per barrel in 1,904 lots.
Analysts said speculators built fresh positions after oil prices extended gains in Asia today on the back of a weaker US dollar and easing fears of a UK exit from the European Union. This mainly led to the rise in crude oil prices.

Meanwhile, West Texas Intermediate for July contract was 44 cents or 0.92 per cent higher at USD 48.42 while Brent crude for August was up 35 cents or 0.71 per cent at USD 49.52 a barrel.
US crude last week plunged nearly 10 per cent in six days after hitting 11-month high over previous week while European Brent had given up 9 per cent.