NEW DELHI, Jan 2: Crude oil futures traded higher by 0.76 per cent to Rs 3,858 per barrel in futures market today as speculators widened their bets, taking positive cues from global market.
At the Multi Commodity Exchange, crude oil for delivery in January rose Rs 29, or 0.76 per cent, to Rs 3,858 per barrel, in a business turnover of 4,526 lots.
Likewise, the oil for delivery in far-month February trading higher by Rs 27, or 0.70 per cent, to Rs 3,867 per barrel in 132 lots.
Analysts said, speculators widened their positions on the back of a firm trend overseas where crude rising to mid-2015 highs amid large anti-government rallies in Iran and ongoing supply cuts led by OPEC and Russia, which influenced crude futures here.
Meanwhile, West Texas Intermediate gained 0.97 per cent, to USD 60.42 per barrel, while Brent crude, the international benchmark, rose 1.07 per cent at USD 66.87. (PTI)