Prices for crude oil futures rose by 0.24 percent to Rs 6,207 per barrel as speculators established new positions, largely at par with firming trend in the Asian region.
At MCX prices of Crude for October delivery traded Rs 15, or 0.24 percent, higher at Rs 6,207 per barrel, with a business volume of 944 lots. The November crude prices are also negotiated for 17 rupees, or 0.21 percent, to Rs 6,251 per barrel, with a turnover of of 335 lots. Analysts attributed the rise in crude oil futures to a firming trend in Asia as traders await economic data from the United States long delay for clues on the health of top consumer of crude.
Meanwhile, the West Texas Intermediate (WTI) crude prices for November delivery rose by 10 cents to $ 100.91 per barrel in mid-morning trade on the NYMEX.