Crude oil futures up 0.73% on Asian cues

Crude oil rose 0.73 per cent to Rs 2,760 per barrel in futures market today as speculators created fresh bets, taking positive cues from Asian markets.
At Multi Commodity Exchange, crude oil for delivery in August was trading higher by Rs 20, or 0.73 per cent, to Rs 2,760 per barrel, in a business turnover of 9,807 lots.
Likewise, the oil for delivery in far-month September was up by Rs 17, or 0.61 per cent, to Rs 2,825 per barrel in 443 lots.
Analysts said speculators built fresh positions after oil prices extended their rebound in Asia today following a mixed set of US stockpile data, mainly influenced crude prices at futures trade here.

The Department of Energy's weekly report released Wednesday showed that commercial crude oil supplies were up 0.3 percent last week, but gasoline inventories and domestic crude production were both down.
Meanwhile, West Texas Intermediate was up 27 cents to USD 41.10 while Brent crude gained 21 cents to USD 43.31 per barrel.