Crude oil prices rose by 0.77% to Rs 4,831 per barrel in futures trading today as speculators enlarged their positions on the back of a firming trend overseas.
At the Multi Commodity Exchange, crude oil for delivery in May rose by Rs 37, or 0.77%, to Rs 4,831 per barrel, with a business volume of 424 lots.
The oil for delivery in April moved up by Rs 35, or 0.74%, to Rs 4,779 per barrel, with a business turnover of 4,725 lots.
Market analysts attributed the rise in crude oil prices at futures trade to a firming trend overseas, where it climbed to a 30-month high, amid signs that the global economic recovery is strengthening.
Meanwhile, crude in global markets gained 0.48% to $107.20 per barrel.
