Crude oil futures traded higher by 0.52 per cent at Rs 6,230 per barrel today as speculators indulged in creating positions, triggered by a firm trend in Asia.
On the Multi Commodity Exchange, crude oil for delivery in March gained Rs 32 or 0.52 per cent to Rs 6,230 per barrel with a business turnover of 583 lots.
Similarly, the oil for March delivery moved up by Rs 26 or 0.42 per cent to Rs 6,246 per barrel with a business volume of 105 lots.
Marketmen said the rise in crude oil futures was largely in tune with a firm trend in Asia, supported by a surge in bank lending in China, the world’s top energy consumer.
Meanwhile, crude oil for March delivery advanced 21 cents to $100.51 a barrel in late morning trade, as extra cold weather in the US bolstered the demand for heating fuel.