Crude oil futures rise on global cues

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SummaryTracking a firm global trend, crude oil prices rose by Rs 26 to Rs 5,057 per barrel in futures trade today as speculators enlarged their positions.

Tracking a firm global trend, crude oil prices rose by Rs 26 to Rs 5,057 per barrel in futures trade today as speculators enlarged their positions.

At the Multi Commodity Exchange, crude palm oil for delivery in January rose by Rs 26, or 0.52 per cent to Rs 5,057 per barrel in business turnover of 23,896 lots.

Similarly, the oil for delivery in February traded higher by Rs 26, or 0.51 per cent to Rs 5,102 per barrel in 3,045 lots.

Market analysts said fresh positions built-up by speculators, driven by a firm global trend influenced crude oil prices.

Meanwhile, crude for February delivery rose USD 1.02 to USD 92.84 a barrel on the New York Mercantile Exchange.

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