Crude oil prices rose 0.32 per cent to Rs 4,042 per barrel in futures market today as speculators created fresh positions, taking positive cues from global markets.
At the Multi Commodity Exchange, crude oil for delivery in April was trading higher by Rs 13, or 0.32 per cent, to Rs 4,042 per barrel in a business turnover of 784 lots.
The oil for delivery in May rose by Rs 12, or 0.30 per cent, to trade at Rs 4,059 per barrel in 43 lots.
Analysts said speculative positions built up by traders, tracking a better trend overseas where oil markets stabilised after slumping around 2 per cent last Friday on concerns over an intensifying trade dispute between the US and China, as well as increased drilling activity, influenced sentiments at futures trade here.
Meanwhile, West Texas Intermediate gained 29 cents, or 0.47 per cent to USD 62.35, while global benchmark Brent advanced 32 cents, or 0.48 per cent to USD 67.43a barrel.
Disclaimer: No Business Standard Journalist was involved in creation of this content
