Crude futures quoted 0.61 per cent higher at Rs 6,112 per barrel today as speculators created new positions in the midst of firm trend in Asia.
Today a rapid trend in crude oil. MCX Crude prices have gone beyond Rs 6,100. According to the API reported crude oil reserves in the U.S. has increased.
On MCX, crude oil for February delivery gained Rs 41, or 0.67 per cent, to Rs 6,116 per barrel.
The March delivery rose oil by Rs 35, or 0.58 per cent, to Rs 6,102 per barrel.
Marketmen said the rise in crude futures was largely in tandem with a firming trend in Asia as the extra cold weather in the U.S. fueled the demand for heating fuel.
In the meantime, on NYMEX crude oil for March delivery rose 40 cents to $ 97.59 a barrel in mid-morning trading.
Reported News Source: Business Standard