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Crude oil prices rose by Rs 34 to Rs 4,884 per barrel in futures trade on Wednesday as speculators enlarged their positions on the back of a firm global trend.
Trading sentiments buoyed after crude oil gained overseas on concerns that allied attacks on Libya would prolong supply disruptions.
At the Multi Commodity Exchange, crude oil for delivery in July rose by Rs 34, or 0.70 per cent, to Rs 4,884 per barrel, with a business volume of three lots.
Similarly, the oil for delivery in April moved up by Rs 18, or 0.38 per cent, to Rs 4,736 per barrel, with a business turnover of 35 lots.
Market analysts said fresh positions created by speculators in tandem with a firming trend in global markets pushed up crude oil futures prices.
Meanwhile, oil climbed 0.4 per cent to $ 105.38 a barrel, the highest in two weeks, in New York.
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