Crude oil was up 0.81 per cent to Rs 3,352 per barrel in futures market today as speculators widened their bets, taking positive cues from overseas markets.
At the Multi Commodity Exchange, crude oil for delivery in current month rose by Rs 27 or 0.81 per cent to Rs 3,352 per barrel, in a business turnover of 4,012 lots.
Likewise, the oil for delivery in May was trading higher by Rs 27, or 0.80 per cent, to Rs 3,392 per barrel in 73 lots.
Analysts said widening of positions by speculators on the back of a firming trend in global market where crude rose to a four-week high on forecasts that US supplies fell and reports of a North Sea oil-field shutdown, mainly influenced sentiments at futures trade here.
Meanwhile, West Texas Intermediate (WTI) for May delivery gained 79 cents, to USD 51.03, its highest level since March 7 while Brent crude for June rose USD 1.05, or 2 per cent to USD 54.17 per barrel.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)