Crude oil prices rose by 0.56% to Rs 4,825 per barrel in futures trade today in tandem with a firming trend in Asia on continued fears that the unrest in Libya could spread to other parts of the oil-rich West Asia.
At the Multi Commodity Exchange, crude oil for April delivery rose by Rs 30, or 0.56%, to Rs 4,825 per barrel, with an open interest in 623 lots.
In a similar manner, oil for March delivery also moved up by Rs 19, or 0.40%, to Rs 4,737 per barrel, with an open interest in 2,805 lots.
Analysts said crude oil futures prices rose in Asian trade on continued investor concerns that the unrest in Libya could spread to the oil-rich West Asia, which influenced the trading sentiment at home as well.
Meanwhile, New York's main contract, crude for April delivery, gained 44 cents to $104.82.
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