Crude oil prices moved up by 0.51% to Rs 4,322 per barrel in futures trade today as speculators enlarged their positions, tracking a firming trend in Asian trade on pick-up in demand.
At the Multi Commodity Exchange, crude oil for July delivery rose by Rs 22, or 0.51%, to Rs 4,322 per barrel, with a business turnover of 6,170 lots.
Likewise, August contracts for the oil gained Rs 20, or 0.46% to Rs 4,368 per barrel, with a business volume of 608 lots.
Market analysts said a firming trend overseas on signs that oil demand is picking up in US, the world's largest consumer of the commodity, supported the upside in oil prices at futures trade here.
Meanwhile, crude oil for August delivery rose by 66 cents to $97.31 a barrel on the New York Mercantile Exchange.
