Crude oil futures rise 1.19% on positive overseas cues
New Delhi: Crude oil prices spurted 1.19 per cent to Rs 3,836 per barrel in futures trade Friday as speculators raised their exposure, tracking a rebound in global markets.
At the Multi Commodity Exchange, crude for delivery in February went up by Rs 45, or 1.19 per cent to, Rs 3,836 per barrel in a business turnover of 2,304 lots.
Analysts said the rise in crude oil futures was largely in tandem with a firming trend in Asian trade where it bounced back.
Meanwhile, West Texas Intermediate crude prices rose 1.32 per cent to USD 53.83, while Brent, used to price international oils, was up 1.13 per cent at USD 61.78 a barrel at the New York Mercantile Exchange.