Crude oil futures up 1.35% on firm global cues

Crude oil futures rose by 1.35 per cent to Rs 3,009 a barrel today as speculators raised bets amid a firm trend overseas.

In futures trading at the Multi Commodity Exchange, crude oil for delivery in current month was trading higher by Rs 40, or 1.35 per cent, at Rs 3,009 per barrel in 648 lots.

On similar lines, crude for delivery in far-month June was up by Rs 40, or 1.33 per cent, at Rs 3,049 per barrel in a business turnover of 69 lots.

Analysts said that the rise in crude oil futures was largely in tandem with a firming trend overseas, where it rebounded from five-month lows, hit in Friday's trade owing to fresh supply glut worries.
 

Meanwhile, the US benchmark West Texas Intermediate crude prices was up 1.30 per cent to USD 46.82 a barrel and Brent crude rose 1.41 per cent to USD 49.79 a barrel.