Crude oil futures up on overseas cues

Hopes of a last-minute deal to avert the US fiscal cliff also pulled up the crude oil prices

Crude oil futures prices rose by 0.66% to Rs 5,025 per barrel today as speculators created fresh positions amid a firm trend in Asia.

At the Multi Commodity Exchange, the January contract gained Rs 33, or 0.66%, to Rs 5,025 per barrel, with a business turnover of 8,575 lots.

The February contract moved up by Rs 31, or 0.61%, to Rs 5,076 per  barrel, with a business volume of 1,258 lots.

Marketmen say a  firming trend in Asia on hopes of a last-minute deal to avert the US fiscal cliff pulled up the crude oil prices.

Meanwhile, the February contract advanced by 42% to $ 91.29 a barrel on the New York Mercantile Exchange.