Crude oil prices gained Rs 11 to Rs 4,090 per barrel in futures trading today, as speculators enlarged their positions on pick up in demand in the spot market amid firming global trend.
At the Multi Commodity Exchange platform, crude oil for February-month gained Rs 11, or 0.27 per cent to Rs 4,090 per barrel, with an open interest of single lot.
Similarly, the oil for delivery in December-month edged up by Rs 7, or 0.18 per cent to Rs 4,007 per barrel, with a business turnover of 51 lots.
Traders said increased buying by speculators on rise in demand at spot markets led to a rise in crude oil futures prices.
They said oil prices rose following a sharp upsurge in price in global markets last evening. The crude oil rose 19 cents to $89.38, the highest settlement since 7 October 2008.
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