Crude oil futures today rose 1.30 per cent in early trade on the Multi Commodity Exchange (MCX) as traders increased their positions, following strong global cues, on expectations of a pick- up in demand.
At 1030 hrs on the MCX platform, crude oil for far-month August contract was trading 1.30 per cent higher at Rs 3,206 per barrel, with open interest for 174 lots.
Similarly, the oil for delivery in the July-month contract inched up 1.21 per cent to Rs 3,170 per barrel, in a open interest of 2,052 lots, while the June contract rose 0.90 per cent at Rs 3,152 per barrel, in trading of 10,486 lots.
Market analysts said the fall in US crude inventories last week and reports that China's manufacturing sector expanded for the third month, lifted trading sentiment here.
Crude oil futures in New York climbed 1 per cent to $66.95 a barrel, the highest since November 5 last year.
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