Crude oil futures rise 1.43 per cent on Asian cues

Crude oil surged 1.43 per cent to Rs 3,401 per barrel in futures market today as speculators engaged in creating speculative positions, taking positive cues from Asian markets.
At Multi Commodity Exchange, crude oil for delivery in far-month August contract was trading higher by Rs 48 or 1.43 per cent to Rs 3,401 per barrel in a business turnover of 61 lots.
Likewise, the oil for delivery in July gained Rs 47 or 1.43 per cent to Rs 3,341 per barrel in 3,105 lots.
Analysts said speculative positions created by traders after crude prices rose in Asian trade just before the start of Britain's referendum on its futures in the European Union, influenced crude futures here.

Meanwhile, West Texas Intermediate gained 39 cents or 0.79 per cent to USD 49.52, while global benchmark Brent advanced 34 cents or 0.68 per cent to USD 50.22 a barrel.