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Crude oil rose 1.62 per cent to Rs 5,333 per barrel at the futures trade as speculators created fresh bets, taking positive cues from Asian markets.
At the Multi Commodity Exchange, crude oil for delivery in November was trading notably higher by Rs 85, or 1.62 per cent, at Rs 5,333 per barrel in a business turnover of 256 lots. Similarly, crude to be delivered this month was up by Rs 82, or 1.56 per cent, at Rs 5,325 per barrel in a business turnover of 1,250 lots.
Analysts said speculators built fresh positions as oil prices rose in Asia following rising diplomatic tensions between Riyadh and the West. Meanwhile, West Texas Intermediate gained 82 cents, or 1.15 per cent, to $72.16, while Brent crude traded $1.06, or 1.32 per cent, higher at $81.49 per barrel.
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