Crude oil rose 0.75 per cent to Rs 3,227 per barrel at the futures market today as speculators created fresh bets, taking positive cues from global markets.
At the Multi Commodity Exchange, crude oil for delivery in current month was trading higher by Rs 24 or 0.75 per cent at Rs 3,227 per barrel in a business turnover of 3,156 lots.
Likewise, the oil for delivery in June was trading up by Rs 21 or 0.65 per cent at Rs 3,258 per barrel in 1,093 lots.
Analysts said, speculators enlarged positions as OPEC members supported Saudi Arabian and Russian pledges to extend supply cuts, which mainly influenced crude prices at the futures trade here.
Meanwhile, West Texas Intermediate was up 0.87 per cent at $49.78 per barrel, while Brent crude gained 0.76 per cent to $52.91 per barrel.