Crude oil futures up 0.11 pc on Asian cues

Crude oil rose 0.11 per cent to Rs 5,288 per barrel in futures market Wednesday as speculators created fresh positions, taking positive cues from Asian markets.

At the Multi Commodity Exchange, crude oil for delivery in October contracts rose by Rs 6, or 0.11 per cent to Rs 5,288 per barrel in a business turnover of 8,340 lots.

Crude to be delivered in December month contracts also gained Rs 5, or 0.09 per cent, at Rs 5,287 per barrel in 7,982 lots.

Analysts said, speculators built positions after oil prices rose in global market as industry data showed a surprise decline in US crude inventories, giving lift to crude oil prices in futures trade.

Meanwhile, West Texas Intermediate gained 0.14 per cent to USD 72.02 while Brent crude rose 0.04 per cent to USD 81.44 per barrel.