Crude oil rebounded by 0.75 per cent to Rs 2,702 per barrel at the futures market today as speculators indulged in widening positions, taking positive cues from Asian markets.
On the Multi Commodity Exchange, crude oil for delivery in far-month October rose Rs 20 or 0.75 per cent to Rs 2,702 per barrel in a business turnover of 192 lots.
Likewise, the oil for delivery in September traded higher by Rs 18 or 0.69 per cent to Rs 2,628 per barrel in 7,752 lots.
Analysts said building up of fresh positions by speculators on the back of a firm Asian trend, mainly led to rise in crude oil prices at the futures trade.
Meanwhile, West Texas Intermediate for October delivery gained 86 cents to $39.46, while Brent crude for October delivery rose $1.07 to $44.21 in late-morning trade.