Crude oil prices rose by Rs 14 or 0.39 per cent to Rs 3,575 per barrel in futures trade today, as traders created fresh positions on a firming global trend.
Trading sentiment turned better after oil rose in New York, on expectations fuel demand will increase as China's crude imports gained and as the falling dollar spurred investors to buy commodities.
At the Multi Commodity Exchange, crude oil for July-month contract rose by Rs 14, or 0.39 per cent to Rs 3,575 per barrel, with an open interest of 3,390 lots.
The oil for delivery in June-month contract also moved up by Rs 12, or 0.34 per cent to Rs 3,515 per barrel, with a business turnover of 20,795 lots.
Market analysts said fresh buying by traders in tandem with a firming global trend led to a rise in crude oil prices at futures trade.
Meanwhile, crude oil for July delivery rose by 35 cents to $74.73 a barrel on the New York Mercantile Exchange.
