Crude oil rose 0.60 per cent to Rs 4,514 per barrel in futures market today as speculators created fresh bets, taking positive cues from overseas markets.
At Multi Commodity Exchange, crude oil for delivery in May spurted by Rs 27, or 0.60 per cent to Rs 4,514 per barrel, in a business turnover of 1,977 lots.
Likewise, the oil for delivery in June traded higher by Rs 26, or 0.58 per cent, to Rs 4,519 per barrel in 22 lots.
Analysts said speculators built fresh positions after oil prices rose overseas, supported by concerns that the US may re-impose sanctions on major exporter Iran. This mainly led to the rise in crude oil prices in futures trade here.
Meanwhile, West Texas Intermediate gained 28 cents, or 0.42 per cent, to USD 67.53 on the New York Mercantile Exchange. Brent crude advanced 8 cents, or 0.11 per cent to USD 73.21 a barrel.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)