Crude oil futures rise Rs 61 a barrel on global cues

Crude oil prices climbed Rs 61 to Rs 4,033 per barrel in futures trade today as participants raised bets on positive global cues. At the Multi Commodity Exchange, crude for delivery in March was trading higher by Rs 61, or 1.54 per cent, at Rs 4,033 per barrel in a business turnover of 3,968 lots. Likewise, the oil for delivery in April shot up by Rs 60, or 1.51 per cent, to Rs 4,029 per barrel in 128 lots. Analysts said the rise in crude oil futures was largely in sync with a firm trend overseas where oil prices extended gains, but the increases were limited as the dollar regained some ground after touching its lowest level in more than three years on Friday. Meanwhile, West Texas Intermediate crude prices rose five cents, or 0.1 per cent, to USD 61.73, while Brent, used to price international oils, was up 15 cents, or 0.2 per cent at USD 64.99 a barrel at the New York Mercantile Exchange.