futures prices rose by 0.60% to Rs 5,575 per barrel today as speculators created fresh positions, tracking a firming trend in Asia as moderate growth in new jobs in the US raised hopes about a pick-up in demand.
At the Multi Commodity Exchange, crude oil
for delivery in July traded Rs 33, or 0.60% higher at Rs 5,575 per barrel, with a business turnover of 1,378 lots.
for June also moved up by Rs 32, or 0.58%, to Rs 5,545 per barrel, with a business volume of 10,762 lots.
Market analysts said the rise in crude oil
futures was attributed to a firming trend in Asia after upbeat US jobs data, raising hopes about a pick-up in demand in the world's biggest crude consumer.