NEW DELHI, Jan 8: Crude oil futures traded 0.23 per cent higher at Rs 3,900 per barrel in futures market today as speculators widened bets, taking positive cues from global market.
At the Multi Commodity Exchange, crude oil for delivery in February rose Rs 9, or 0.23 per cent, to Rs 3,900 per barrel in a business turnover of 90 lots.
Likewise, the oil for delivery in the current month was trading higher by Rs 8, or 0.21 per cent, at Rs 3,895 per barrel in 1,289 lots.
Analysts said, speculators widened positions on account of output cut by OPEC and Russia; freezing weather in the US which has fuelled demand for heating oil and falling crude oil inventories influenced prices in futures trade here.
Meanwhile, West Texas Intermediate gained 0.26 per cent, to USD 61.60 per barrel, while Brent crude, international benchmark, rose 0.19 per cent at USD 67.75. (PTI)
Trending Now
E-Paper
Follow our WhatsApp channel