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Crude oil futures prices rose 0.62 per cent to Rs 6,342 per barrel today as speculators created fresh positions, tracking a firm trend in the Asian region, on hopes of a possible breakthrough in the US budget crisis.
On the Multi Commodity Exchange, crude oil prices for delivery in October traded higher by Rs 39 or 0.62 per cent at Rs 6,342 per barrel with a business turnover of 3,069 lots.
Similarly, crude oil prices for November delivery were also up by Rs 39 or 0.62 per cent to Rs 6,372 per barrel with a business volume of 193 lots.
Market analysts attributed the rise in crude oil futures to a firm trend in Asia on hopes of a possible breakthrough in the US budget crisis after the White House moved to convene meetings with leading members of Congress.
Meanwhile, West Texas Intermediate (WTI) crude oil for November delivery traded up by seven cents at $101.68 a barrel in mid-morning trade on the New York Mercantile Exchange.
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