Crude oil futures prices rose 0.48 per cent to Rs 4,865 per barrel today as speculators created fresh positions amid a firm trend in Asia.

At the Multi Commodity Exchange, crude oil for delivery in January gained Rs 23 or 0.48 per cent to Rs 4,865 per barrel with a business turnover of 3,794 lots.

Similarly, the oil for December delivery moved up by Rs 22 or 0.46 per cent to Rs 4,808 per barrel with a business volume of 7,710 lots.

Marketmen said the rise in crude oil futures was largely in tandem with a firm trend in Asia with hopes rising of a US deal to avert the fiscal cliff after a meeting between President Barack Obama and top Republican lawmaker John Boehner.

Meanwhile, crude oil for January delivery advanced by 37 cents to $87.58 a barrel on the New York Mercantile Exchange.

(This article was published on December 18, 2012)
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