Crude oil futures up 0.3% on firm global cues

Death of Hugo Chavez, Venezuelan president, affected the trade

Crude oil futures for March gained Rs 16, or 0.34%, to Rs 4,993 per barrel, in 5,011 lots.

At the Multi Commodity Exchange (MCX), the April contract also edged higher by Rs 15, or 0.30%, to Rs 5,042 per barrel in 456 lots.

Prices went up as speculators engaged in enlarging positions, taking positive cues from the Asian region.

Death of Hugo Chavez, president of major Latin American crude producer Venezuela, also affected the trade.

On the New York Mercantile Exchange (NYMEX), the April contract up by 26 cents to $91.08 a barrel.