Crude oil futures rise on global cues

May and June contracts gain 0.18% and 0.1% respectively as speculators create fresh positions

Crude oil prices rose by Rs 9 to Rs 5,014 per barrel in futures trading today, as speculators created fresh positions on the back a firming global trend.

At the Multi Commodity Exchange, crude oil for delivery in May rose by Rs 9, or 0.18% to Rs 5,014 per barrel in business turnover of 19,262 lots.

The June contract traded higher by Rs 5, or 0.10% to Rs 5060 per barrel in 11,840 lots.

Market analysts attributed to rise in crude oil futures to firming global trend.

Meanwhile, crude for June delivery rose by 56 cents to $92.04 a barrel on the New York Mercantile Exchange.