Crude oil futures up on overseas cues

NEW DELHI, Feb 17: Crude oil futures traded 0.52 per cent higher at Rs 6,230 per barrel today as speculators indulged in creating positions, triggered by a firming trend in Asia. At the Multi Commodity Exchange, crude oil for delivery in March gained Rs 32, or 0.52 per cent, to Rs 6,230 per barrel, with a business turnover of 583 lots. Oil for March delivery moved up by Rs 26, or 0.42 per cent, to Rs 6,246 per barrel, with a business volume of 105 lots. Marketmen said the rise in crude oil futures was largely in tune with a firming trend in Asia, supported by a surge in bank lending in China, the world's top energy consumer. Meanwhile, crude oil for March delivery advanced 21 cents to USD 100.51 a barrel in late morning trade, as extra cold weather in the US bolstered demand for heating fuel. (AGENCIES)