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Crude oil futures rose 0.15 per cent to Rs 6,208 per barrel today as speculators created fresh positions amid a firm trend in Asia.
On the Multi Commodity Exchange, crude oil for delivery in August contract traded higher by Rs 9 or 0.15 per cent to Rs 6,208 per barrel with a business turnover of 2,135 lots.
Similarly, the oil for delivery in September also moved up by Rs 8 or 0.13 per cent to Rs 6,158 per barrel with a business volume of 84 lots.
Analysts attributed the rise in crude oil futures to a firm trend in Asia after the US reported a large decline in its crude inventories, indicating strong demand in the world’s biggest economy.
Meanwhile, West Texas Intermediate crude oil for September delivery rose two cents at $103.14 a barrel, while Brent North Sea crude climbed 8 cents to $108.11 in mid-morning trade at the New York Mercantile Exchange.
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