New Delhi: Crude oil futures prices rose by 1.20 percent to Rs 6,086 per barrel Wednesday as speculators created fresh positions amid a firm trend in Asia.
At the Multi Commodity Exchange (MCX), crude oil for delivery in December gained Rs 72, or 1.20 percent, to Rs 6,086 per barrel, with a business turnover of 6,942 lots.
The oil for January next year delivery contracts moved up by Rs 73, or 1.20 percent, to Rs 6,138 per barrel, with a business volume of 817 lots.
Market participants said the rise in crude oil futures was attributed to a firming trend in Asia on news that part of a major US pipeline could open next month and ease over-supplied inventories.
Meanwhile, crude oil for January delivery advanced by USD 1.13 to USD 97.17 a barrel in mid-morning trade on the New York Mercantile Exchange.
First Published: Wednesday, December 04, 2013, 13:13