Crude oil futures up on global cues

Crude oil prices rose by Rs 14 to Rs 5,441 per barrel in futures trade today as speculators created fresh positions, tracking a firming trend in overseas markets.

At the Multi Commodity Exchange, April crude oil rose by Rs 14, or 0.26% to Rs 5,441 per barrel in business turnover of 5,717 lots.

The March delivery gained Rs 6, or 0.11%, to Rs 5,384 per barrel in 8,367 lots.

Market analysts said fresh buying by speculators in tandem with a firming global trend mainly led to ise in crude oil prices at futures trade.

Meanwhile, crude oil for April delivery increased 42 cents to $107.48 a barrel on the New York Mercantile Exchange.