Crude oil marginally up on global cues

Up above 0.5% from previous close

Crude oil futures prices today rose by 0.52% to Rs 4,600 per barrel as speculators enlarged their positions following a firming global trend.

At the MCX, crude oil for delivery in far-month August rose by Rs 24, or 0.52%, to Rs 4,600 per barrel, with an open interest of 997 lots.

Similarly, the oil for July delivery moved up by Rs 23, or 0.51%, to Rs 4,554 per barrel, with an open interest of 11,119 lots.

Analysts attributed the rise in crude futures to a firming trend in Asian trade.

Meanwhile, crude oil for delivery in August up by 13 cents to $79.49 a barrel in morning trade on the New York Mercantile Exchange.