Crude oil futures rose 1.3 per cent to Rs 3,580 per barrel today as speculators enlarged their positions, tracking a firm trend in Asian region.
At the Multi Commodity Exchange, crude oil prices for delivery in January traded higher by Rs 46 or 1.3 per cent to Rs 3,580 per barrel with a business turnover of 2,789 lots.
Crude oil prices for February delivery were also up by Rs 44 or 1.23 per cent to Rs 3,630 per barrel with a business volume of 111 lots.
Marketmen said the rise in crude oil futures was largely in tandem with a better trend in Asian trade where crude oil prices nudged higher on hopes of improved US economic data, but analysts said gains would be capped with dealers squaring off positions for the end of the year.
Meanwhile, West Texas Intermediate crude prices for February delivery rose 51 cents to $55.77 and Brent crude for February delivery climbed 29 cents to $60.40 a barrel in mid-morning trade on the New York Mercantile Exchange.