Crude oil prices rose by Rs 16 to Rs 3,800 per barrel in futures market today as traders indulged in creating fresh positions on the back of firming global trend.
At the Multi Commodity Exchange, crude oil for June contract rose by Rs 16, or 0.42 per cent to Rs 3,800 per barrel with an open interest of 1,283 lots. The oil for delivery in May contract also moved up by Rs 15, or 0.40 per cent to Rs 3,733 per barrel in 11,191 lots.
Trading sentiment turned better after oil prices climbed in Asian trade, lifted by the equities markets. Marketmen said fresh buying by traders in tandem with a firming global trend mainly led to rise in crude oil prices at futures market.
Meanwhile, New York's main contract, crude for delivery in May was up 60 cents to $82.05 a barrel.
