Crude oil futures rise on Asian cues

Crude oil futures rose by 0.15 per cent to Rs 6,208 per barrel today as speculators created fresh positions amidst a firm trend in Asia.
At the Multi Commodity Exchange, crude oil for delivery in August contracts traded higher by Rs 9, or 0.15 per cent, to Rs 6,208 per barrel, with a business turnover of 2,135 lots.
The oil for delivery in September also moved up by Rs 8, or 0.13 per cent, to Rs 6,158 per barrel, with a business volume of 84 lots.
Analysts attributed the rise in crude oil futures to a firming trend in Asian Asia today after the US reported a large decline in its crude inventories, indicating strong demand in the world's biggest economy.

Meanwhile, West Texas Intermediate crude for September delivery rose by two cents at USD 103.14 a barrel, while Brent North Sea crude climbed 8 cents to USD 108.11 in mid-morning trade at the New York Mercantile Exchange.