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Crude oil advanced 0.81 per cent to Rs 2,849 per barrel at the futures market today as speculators indulged in widening positions, taking positive cues from Asian markets.
At the Multi Commodity Exchange, crude oil for delivery in December rose Rs 23 or 0.81 per cent to Rs 2,849 per barrel in a business turnover of 1,039 lots.
Likewise, the oil for delivery in November traded higher by Rs 21 or 0.77 per cent to Rs 2,756 per barrel in 4,852 lots.
Analysts said widening of positions by participants on the back of a firm Asian trend, mainly led to further rise in crude oil prices at the futures trade.
Oil prices rose yesterday after US-led coalition jets bombed the Islamic State’s oil operations following the deadly attacks on Paris, but analysts said the impact of geopolitical tensions on the oil market is limited.
Meanwhile, West Texas Intermediate crude for December delivery gained 6 cents to $41.80, while Brent crude for January delivery was trading 11 cents higher at $1.07 to $44.67.
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