Crude oil futures prices rose 1.21 per cent to Rs 6,951 per barrel today as speculators enlarged positions, tracking a firm trend in the Asian region.
On the Multi Commodity Exchange, crude oil prices for delivery in September traded higher by Rs 83 or 1.21 per cent at Rs 6,951 per barrel with a business turnover of 4,578 lots.
Similarly, crude oil for October delivery was also up by Rs 76 or 1.11 per cent to Rs 6,944 per barrel with a business volume of 513 lots.
Market analysts said the rise in crude oil futures was attributed to a firm trend in Asia on concerns over possible US military action against Syria after Washington warned President Bashar al-Assad’s regime that it would face action over an alleged chemical weapons attack.
Meanwhile, West Texas Intermediate crude for October delivery was up 57 cents at $106.49 a barrel in the mid-morning trade on the New York Mercantile Exchange.