Crude oil prices went up by 0.83 per cent to Rs 4,603 per barrel in futures market today as speculators built up fresh positions, taking positive cues from overseas markets.
At the Multi Commodity Exchange, crude oil for delivery in May rose by Rs 38, or 0.83 per cent, to Rs 4,603 per barrel in a business turnover of 12,402 lots.
The oil for delivery in June also gained Rs 35, or 0.77 per cent, to Rs 4,606 per barrel in 269 lots.
Analysts said fresh positions built up by participants in tandem with a firm trend overseas on expectations that supplies will tighten lifted the sentiment here.
Also, the likelihood of US sanctions against Iran influenced crude oil prices at futures trade.
Meanwhile, West Texas Intermediate gained 48 cents, or 0.70 per cent to USD 69.12, while global benchmark Brent advanced by 32 cents, or 0.43 per cent to USD 75.03 a barrel.
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