Crude oil prices rose marginally by Rs 8, or 0.15%, to Rs 5,222 per barrel in the futures market today on speculative buying after US crude inventories dropped to their lowest in nearly three years.
At the Multi Commodity Exchange, crude oil for delivery in January rose by Rs 8, or 0.15%, to Rs 5,222 per barrel, with a business volume of 4,770 lots.
February crude gained Rs 7, or 0.13%, to Rs 5,241 per barrel, with a trading volume of 352 lots.
Analysts said fresh positions built up by speculators after US crude inventories dropped to their lowest in nearly three years, mainly influenced crude futures prices here.
Meanwhile, February crude added 40 cents to $99.07 a barrel on the New York Mercantile Exchange.
