Crude oil futures gain on firm global cues

Crude oil futures rose Rs 24 to Rs 4,066 per barrel today as speculators raised bets amid a firm trend overseas.
At the Multi Commodity Exchange, crude oil for delivery in February was up Rs 24, or 0.59 per cent, at Rs 4,066 per barrel, with a business turnover of 2,178 lots.
The oil for delivery in March too strengthened by a similar margin and was trading at Rs 4,065 per barrel, in a turnover of 107 lots.
Analysts said building up of positions by participants, tracking a firm trend in global market, pushed up by a drop in US drilling activity and by fighting in Syria between Turkish forces and Kurdish fighters, influenced crude futures here.

Meanwhile, US benchmark West Texas Intermediate crude prices were up by 0.33 per cent, at USD 63.58 and Brent crude rose 0.34 per cent, to USD 68.84 a barrel.