Crude oil prices moved up by Rs 31 to Rs 3506 per barrel in futures trade today on fresh buying by speculators in tandem with a firming global trend.
Trading sentiment was buoyed by oil, which topped $75 a barrel in Asian trade, adding to the bullish trend in stock markets.
At the Multi Commodity Exchange platform, crude oil for July month contract rose by Rs 31, or 0.89 per cent to Rs 3506 per barrel with an open interest of 26472 lots.
Similarly, the oil for delivery in August month moved up by Rs 30, or 0.85 per cent to Rs 3546 per barrel in 5025 lots.
Marketmen said fresh buying by speculators in tandem with a firming global trend mainly led to a rise in crude oil prices at futures trade.
Meanwhile, New York's main contract, crude for delivery in August, touched an intra-day high of $75.10 a barrel before easing to trade at $74.75 a barrel, up 68 cents from the previous day.
