Crude oil prices advanced 0.14 per cent to Rs 4,945 per barrel in futures market today as speculators raised their bets amid positive global cues.
At the Multi Commodity Exchange, crude oil for delivery in July edged up by Rs 7, or 0.14 per cent to Rs 4,945 per barrel in business turnover of 35 lots.
Also, the oil for delivery in June was trading higher by Rs 6, or 0.12 per cent to Rs 4,944 per barrel in 3,847 lots.
Analysts said sentiment remained firm after oil prices rose in global markets on concerns that Venezuela's crude output could drop further following a disputed presidential election and the potential US sanctions on the OPEC-member.
Meanwhile, West Texas Intermediate rose 22 cents, or 0.30 per cent, to USD 72.46 per barrel on the New York Mercantile Exchange. Brent crude went up by 15 cents, or 0.19 per cent to USD 79.37 a barrel.
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