Crude oil futures prices rose by 0.14 per cent to Rs 5,597 per barrel today after participants created speculative positions, tracking a firming trend in Asia.
At the Multi Commodity Exchange, crude oil for delivery in September traded Rs 8, or 0.14 per cent, higher at Rs 5,597 per barrel, with a business turnover of 540 lots.
The oil for October also moved up by Rs 6, or 0.11 per cent, to Rs 5,586 per barrel, with a business volume of 32 lots.
Market analysts attributed the rise in crude oil futures to a firming trend in Asia after US President Barack Obama vowed to destroy jihadist militants in crude producers Syria and Iraq, but weak global demand and a supply glut capped gains.
US benchmark West Texas Intermediate was up 16 cents to USD 91.83, while Brent crude October gained 14 cents to USD 98.18 in mid-morning trade.
