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Crude oil futures rose 0.24% to Rs 2,923 per barrel today as speculators created positions even as it fell to near six-year lows in Asian markets.
At the Multi Commodity Exchange, crude oil for delivery in April gained Rs 7, or 0.24%, to Rs 2,923 per barrel, with a business turnover of 615 lots.
The oil for March delivery moved up by Rs 6, or 0.22%, to Rs 2,747 per barrel, with a business volume of 3,229 lots.
Marketmen said fresh positions built-up by speculators at prevailing lower levels, led to the rise in crude oil futures but a weak trend in Asian trade, capped the gains.
Meanwhile, West Texas Intermediate crude prices for April delivery was down eight cents to $43.80, while Brent crude for May, a new contract, rose 27 cents to $54.21 a barrel in late morning trade, the lowest since March 2009 on the New York Mercantile Exchange.
