Crude oil futures remain higher on global cues

Crude oil futures prices rose further by Rs 17 to Rs 3,918 per barrel today, as speculators enlarged their positions in tandem with a firm global trend.

At the Multi Commodity Exchange counter, crude oil for November delivery rose by Rs 17, or 0.44 per cent to Rs 3,918 per barrel, with a business turnover of 65 lots.

Similarly, the oil for delivery in December contract traded higher by Rs 16, or 0.41 per cent to Rs 3,962 per barrel, with a business volume of four lots.  

Marketmen said speculators creating fresh positions influenced by a firm global trend led to a rise in crude oil futures prices.  

Meanwhile, crude prices rose 34 cents to $88.15 a barrel in the New York futures trading.