Crude oil futures rose 0.41 per cent to Rs 3,161 per barrel today as speculators created fresh positions despite a weak trend in Asian markets.
On the Multi Commodity Exchange, crude oil for delivery in May gained Rs 13 or 0.41 per cent to Rs 3,161 per barrel with a business turnover of 300 lots.
Similarly, the oil for delivery in April moved up by Rs 10 or 0.33 per cent to Rs 3,027 per barrel with a business volume of 4,704 lots.
Marketmen said fresh positions built-up by speculators at current levels pushed up crude oil prices at the futures trade but a weak trend in Asian markets, as dealers monitored last-ditch efforts between global powers and Iran to reach a deal on Tehran’s nuclear programme, capped the gains.
Meanwhile, West Texas Intermediate crude fell 69 cents to $47.99, while Brent eased 55 cents to $55.74 per barrel in mid-day trade on the New York Mercantile Exchange.