Crude oil futures up 0.57% on strong Asian cues

Crude oil futures rose by 0.57% to Rs 5,325 per barrel today, as speculators enlarged their positions, supported by a firming trend overseas.

At the Multi Commodity Exchange, January crude rose by Rs 30, or 0.57%, to Rs 5,325 per barrel, with a business turnover of 5,620 lots.

The February delivery gained Rs 29, or 0.55%, to Rs 5,350 per barrel, with a trading volume of 551 lots.

Analysts attributed the rise in crude oil prices at futures trade to a firming trend in Asian trade on positive US economic data and heightened worries over Iran's nuclear programme.

Meanwhile, crude oil for February delivery rose by 28 cents to $101.59 a barrel on the New York Mercantile Exchange.