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Crude oil futures were sharply up by 1.83 per cent to Rs 3,682 per barrel today as speculators created positions on the back of rebound in Asian region.
At the Multi Commodity Exchange, crude oil prices for delivery in January traded higher by Rs 66, or 1.83 per cent, to Rs 3,682 per barrel, with a business turnover of 4,484 lots.
Crude oil prices for far-month February were also up by Rs 67, or 1.83 per cent, to Rs 3,732 per barrel with a business volume of 230 lots.
Marketmen said the rise in crude oil futures was largely in tandem with upward trend in the Asian trade where crude extending a sharp rebound at the end of last week, with analysts predicting the sector has bottomed out after plunging almost 50 per cent since June.
Meanwhile, West Texas Intermediate crude prices for February delivery rose 58 cents to USD 57.71 and Brent crude for February climbed 79 cents to USD 62.17 a barrel in late-morning trade on the New York Mercantile Exchange.
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