Crude oil futures up on global cues

Crude oil prices rose by Rs 31 to Rs 3,873 per barrel in futures trade today, as speculators enlarged their positions in tandem with a firm global trend.

At the Multi Commodity Exchange platform, crude oil for delivery in January-month rose by Rs 31, or 0.81 per cent, to Rs 3,873 per barrel with just one lot.

Similarly, the oil for delivery in October gained Rs 4, or 0.L1 per cent, to Rs 3,700 per barrel, with a business turnover of 35 lots.

Market analysts said speculators enlarged their positions amid firming global trend mainly led to a rise in crude oil prices at futures trade.

Meanwhile, crude for November delivery traded higher by 4 cents to $82.86 a barrel on the New York Mercantile Exchange.