Crude oil futures rose 1.24 per cent to Rs 5,396 per barrel today, as speculators enlarged their positions due to a firming global trend.
At the Multi Commodity Exchange, crude oil for delivery in March rose Rs 56 or 1.07 per cent to Rs 5,283 per barrel in 5,448 lots. Similarly, April contract moved up by Rs 55 or 1.06 per cent to Rs 5,337 per barrel in 702 lots.
Analysts attributed the rise in crude futures to a firming trend in Asian markets, supported by upbeat US economic data and fears over supply disruptions in West Asia.
Meanwhile, crude oil for delivery in April advanced by one cent to $107.08 a barrel in morning trade on the New York Mercantile Exchange.