Crude oil futures prices today rose by 0.73% to Rs 4,700 per barrel as speculators created fresh positions, tracking a firm trend in Asian trade.
At the MCX, crude oil for delivery in June gained Rs 34, or 0.73%, to Rs 4,700 per barrel, with a business turnover of 5,246 lots.
The July contract moved up by Rs 31, or 0.66%, to Rs 4,744 per barrel, with a business turnover of 1,066 lots.
Market analysts attributed the rise in crude oil futures to a firming trend in Asian trade on easing fears of global financial turmoil after pro-bailout parties in Greece won enough seats in general election to form a coalition government.
Meanwhile, crude oil for July delivery advanced 90 cents to $84.93 a barrel on the New York Mercantile Exchange.
