Crude oil futures up 0.99 per cent on Asian cues

NEW DELHI: Crude oil rose 0.99 per cent to Rs 3,073 per barrel in futures market today as speculators created fresh bets, taking positive cues from Asian markets.

At Multi Commodity Exchange, crude oil for delivery in December rose by Rs 30, or 0.99 per cent, to Rs 3,073 per barrel, in a business turnover of 592 lots.

Likewise, the oil for delivery in current month traded higher by Rs 26, or 0.88 per cent, to Rs 2,976 per barrel in 5,239 lots.

Analysts said speculators built fresh positions after oil prices rebounded in Asia today but stayed below $45 a barrel as gains were limited by a strong dollar and data showing a decline in Chinese crude imports. This mainly led to rise in crudeoil prices in futures trade.

Meanwhile, West Texas Intermediate for December delivery gained 35 cents to $44.64 while Brent crude was up 38 cents to $47.80 a barrel.