Crude oil futures up 0.97%; positive cues in Asia

Crude oil was trading higher 0.97 per cent to Rs 3,025 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 far-month August rose by Rs 29 or 0.97 per cent to Rs 3,025 per barrel in a business turnover of 53 lots.
Likewise, the oil for delivery in July traded higher by Rs 28 or 0.94 per cent to Rs 2,996 per barrel in 2,535 lots.
Analysts said speculators built fresh positions after oil prices rose in Asia. This mainly led to rise in crude oil prices in futures trade here.

Meanwhile, West Texas Intermediate gained 0.35 per cent to USD 46.20 while Brent crude rose 0.18 per cent to USD 48.86 per barrel.