Crude oil future prices rose 0.8 per cent to Rs 5,411 per barrel today as speculators created fresh positions, tracking a firm trend in Asia.
At the Multi Commodity Exchange, crude oil for delivery in September gained Rs 43 or 0.8 per cent to Rs 5,411 per barrel with a business turnover of 9,476 lots.
Similarly, the oil for October delivery moved up by Rs 42 or 0.78 per cent to Rs 5,445 per barrel with a business volume of 791 lots.
Marketmen said the rise in crude oil futures was on account of a firm trend in Asia as hopes rose that the US Federal Reserve would kickstart the economy of the world’s largest oil consumer.
Meanwhile, crude oil for October delivery advanced by 43 cents to $97.69 a barrel on the New York Mercantile Exchange.