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Crude oil futures prices rose 0.14 per cent to Rs 5,597 per barrel today after participants created speculative positions, tracking a firming trend in Asia.
On the Multi Commodity Exchange, crude oil for delivery in September traded higher by Rs 8 or 0.14 per cent at Rs 5,597 per barrel with a business turnover of 540 lots.
The oil for October delivery also moved up by Rs 6 or 0.11 per cent to Rs 5,586 per barrel with a business volume of 32 lots.
Market analysts attributed the rise in crude oil futures to a firm trend in Asia after US President Barack Obama vowed to destroy jihadist militants in crude producers Syria and Iraq, but weak global demand and a supply glut capped the gains.
US benchmark West Texas Intermediate was up 16 cents at $91.83, while Brent crude October gained 14 cents to $98.18 in mid-morning trade.
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