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Crude oil rose 0.46 per cent to Rs 3,047 per barrel in futures market today as speculators created fresh bets, taking positive cues from Asian markets.
At the Multi Commodity Exchange, crude oil for delivery in November rose by Rs 14, or 0.46 per cent, to Rs 3,047 per barrel, in a business turnover of 2,483 lots.
Likewise, the oil for delivery in December traded higher by Rs 14, or 0.45 per cent, to Rs 3,121 per barrel in 58 lots.
Analysts said speculators built fresh positions on the back of a firm Asian trend, buoyed by bargain hunting ahead of the release of US data that will gauge crude demand in the world’s biggest economy. This mainly led to rise in crude oil prices in futures trade.
Meanwhile, West Texas Intermediate for December delivery gained 16 cents to USD 46.30 while Brent crude for December rose 11 cents higher at USD 48.90.
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