Crude oil futures up on overseas cues

Crude oil futures prices rose by 0.16% to Rs 4,916 per barrel today as speculators created fresh positions amid a firm trend in Asia.

At the Multi Commodity Exchange, the January contract gained Rs 8, or 0.16%, to Rs 4,916 per barrel, with a business turnover of 3,376 lots.

The February contract moved up by Rs 7, or 0.14, to Rs 4,969 per barrel, with a business volume of 229 lots.

Marketmen said the rise in crude oil futures was largely due to a firming trend in Asia.

Meanwhile, the January contract advanced by 46 cents to $ 89.07 a barrel on the New York Mercantile Exchange.