NEW DELHI, Feb 1: Crude oil futures rose by Rs 20 to Rs 4,132 per barrel today as speculators increased positions amid a firm trend overseas.
At the Multi Commodity Exchange, crude oil for delivery in February was up Rs 20, or 0.49 per cent, at Rs 4,132 per barrel, with a business turnover of 1,787 lots.
The oil for delivery in March gained Rs 19, or 0.46 per cent, to Rs 4,132 per barrel, in a turnover of 84 lots.
Analysts said building up of positions by participants, tracking a firm trend in global market after the US Energy Department said oil inventories rose for the first time in nearly three months, but was offset by strong demand for gasoline and distillate products and news that OPEC countries maintained heavy supply cuts in January, influenced crude futures here.
Meanwhile, US benchmark West Texas Intermediate crude prices were up by 18 cents, at USD 64.91 and Brent crude rose three cents to, USD 69.05 a barrel. (PTI)
Trending Now
E-Paper
Follow our WhatsApp channel