NEW DELHI, Aug 8: Crude oil futures rose over one per cent to Rs 6,050 per barrel today as speculators created fresh positions amid a firm trend in Asia.
Analysts said the rise in crude oil futures was largely in tandem with a firming trend in Asia after US President Barack Obama said he had authorised air strikes against Sunni extremist militants in key crude producer Iraq.
At the Multi Commodity Exchange, crude oil for delivery in August gained Rs 63, or 1.05 per cent, to Rs 6,050 per barrel, with a business turnover of 2,385 lots.
Oil for September contracts surged by a similar margin to trade at Rs 6,046 per barrel, with a business volume of 250 lots.
Meanwhile, West Texas Intermediate crude oil for September delivery advanced by 35 cents at USD 97.69 while Brent for September contracts gained 67 cents to USD 106.11 a barrel in mid-morning trade on the New York Mercantile Exchange. (PTI)
Follow our WhatsApp channel