Crude oil futures up 0.62 pc on global cues

Crude oil rose 0.62 per cent to Rs 3,228 per barrel in futures market today as speculators engaged in creating speculative positions, taking positive cues from global markets.
At the Multi Commodity Exchange, crude oil for delivery in May was trading higher by Rs 20, or 0.62 per cent, to Rs 3,228 per barrel in a business turnover of 3,236 lots.
The oil for delivery in June rose by a similar margin to trade at Rs 3,264 per barrel in 63 lots.
Analysts said speculative positions built up by traders, tracking a better trend in crude in overseas markets influenced sentiments at futures trade.

Meanwhile, West Texas Intermediate gained 0.50 per cent to USD 49.87, while global benchmark Brent advanced 0.56 per cent to USD 52.25 a barrel.