Crude oil futures were up 1.55 per cent at Rs 3,276 per barrel today as speculators created positions amid positive Asian cues.
At the Multi Commodity Exchange, crude oil for delivery in July gained Rs 50 or 1.55 per cent to Rs 3,276 per barrel with a business turnover of 6,237 lots.
The oil for August delivery moved up Rs 44 or 1.34 per cent to Rs 3,339 per barrel with a business volume of 205 lots.
Marketmen said the rise in crude oil futures was largely in tune with firm trend in Asian trade where it extended gains, tracking recovery in equity markets as leaders look to temper fears over the effects of Britain’s decision to exit the European Union.
Meanwhile, West Texas Intermediate crude prices advanced 37 cents or 0.77 per cent to $48.22, while Brent crude added 30 cents or 0.62 per cent to $48.48 a barrel on the New York Mercantile Exchange.