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Crude oil futures traded 0.81 per cent higher at Rs 2,996 per barrel today as speculators created positions amid a firm trend in Asia.
At Multi Commodity Exchange, crude oil for delivery in far-month June gained Rs 24, or 0.81 per cent, to Rs 2,996 per barrel, with a business turnover of 186 lots.
The oil for delivery in May moved up Rs 23, or 0.79 per cent, to Rs 2,926 per barrel, with a business volume of 2,241 lots.
Marketmen said the rise in crude oil futures is largely in tandem with a firming trend in Asia, heading for their third weekly gain after OPEC said it was open to fresh calls on freezing output despite the failure to reach a deal at the weekend.
West Texas Intermediate crude prices for delivery in June advanced 54 cents, or 1.25 per cent, to USD 43.72 a barrel and Brent climbed 49 cents, or 1.10 per cent, to USD 45.02 a barrel on the New York Mercantile Exchange.
WTI is up more than eight per cent and Brent 4.5 per cent from last Friday’s close.
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