Crude oil prices rose by 0.42 per cent to Rs 4,587 per barrel in futures trade today as speculators built up fresh positions taking positive cues from overseas markets.
At the Multi Commodity Exchange, crude oil for delivery in June month went up by Rs 19, or 0.42 per cent to Rs 4,587 per barrel in business turnover of 212 lots.
Likewise, the oil for delivery in May was trading higher by Rs 17, or 0.37 per cent, to Rs 4,580 per barrel in 4,367 lots.
Analysts said fresh positions built up by traders in tandem with a firm trend overseas buoyed the sentiment here.
Meanwhile, West Texas Intermediate gained 39 cents, or 0.57 per cent to USD 68.44, while global benchmark Brent rose 50 cents, or 0.68 per cent to USD 74.50 a barrel.
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