Crude oil futures gain 0.3% on firm overseas cues

Crude oil futures for February moved up by Rs 16, or 0.31% to Rs 5155 per barrel in 25,377 lots.

At the Multi Commodity Exchange (MCX), the March traded higher by the same margin to Rs 5,200 per barrel in 3,109 lots.

Prices rose as speculators enlarged positions.

Report showing US fuel demand moving up triggered firm trend in overseas markets.

On the New York Mercantile Exchange (NYMEX), the March contract advanced 27 cents to $96.89 a barrel.