Crude oil futures up on higher global trend

Crude oil prices rose by Rs 13 to Rs 4,159 per barrel in futures trade today, as speculators enlarged their positions, supported by a firming global trend.

At the Multi Commodity Exchange, crude oil for February contract delivery rose by Rs 13, or 0.31 per cent to Rs 4,159 per barrel, with a business turnover of 72 lots.

Similarly, the oil for delivery in March contract gained Rs 4, or 0.09 per cent to Rs 4,296 per barrel, with a business volume of three lots.

Market analysts said fresh buying by speculators in tandem with a firming global trend, following the ongoing political crisis in Egypt, pushed up the crude oil prices.    

Meanwhile, New York's main futures contract, crude for March, was up five cents to $90.91.