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Crude oil futures rose 0.74 per cent to Rs 6,431 per barrel today as speculators enlarged their positions due to a firm trend in the Asian region, where crude oil prices surged to a nine-month high due to Iraq violence.
On the Multi Commodity Exchange, crude oil for delivery in July traded higher by Rs 47 or 0.74 per cent to Rs 6,431 per barrel with a business turnover of 479 lots.
Similarly, crude oil prices for June delivery were up by Rs 45 or 0.7 per cent to Rs 6,444 per barrel with a business volume of 2,355 lots.
Analysts attributed the rise in crude oil futures to a firm trend in the Asian trade as investors kept a wary eye on the worsening crisis in Iraq, where insurgents were advancing on the capital Baghdad.
Meanwhile, West Texas Intermediate crude oil prices for July delivery jumped 35 cents to $107.26 a barrel in late morning trade on the New York Mercantile Exchange.
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