In the Multi Commodity Exchange, crude for January delivery traded higher by Rs 25, or 0.42% to Rs 5,986 per barrel, with a business volume of 39 lots.
Similarly, Crude oil December contracts also moved by R 21 or 0.36% to Rs 5,921 per barrel, with a turnover of 1,041 lots.
Market observers said the rise in crude futures was attributed to a strong trend in Asia after the U.S. President Barack Obama said he was not confident that a deal could be reached this week on Iran’s disputed nuclear program.
Meanwhile, crude oil for December delivery gained 31 cents to $ 93.65 a barrel on the New York Mercantile Exchange.
Reported: Business Line