Crude oil prices moved up by 1.45% to Rs 4,409 per barrel in futures trade today as speculators enlarged their positions, triggered by a firming trend in the Asian region.
At the Multi Commodity Exchange, crude oil for delivery in May rose by Rs 63, or 1.45% to Rs 4,409 per barrel, with a business turnover of 24 lots.
The oil for delivery in June also shot up by Rs 57, or 1.30% to Rs 4,454 per barrel, with a business volume of eight lots.
Market analysts said a firming trend overseas on concerns that record floods might affect refineries along the Mississippi River in the United States, influenced the crude oil futures prices here.
Meanwhile, crude oil for delivery in June rose by 80 cents to $97.71 a barrel on the New York Mercantile Exchange.
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