NEW DELHI, May 18: Crude oil futures rose 0.77 per cent to Rs 3,808 per barrel today as speculators created fresh positions amid a firm trend in Asia.
Crude oil for delivery in current month contracts traded higher by Rs 29 or 0.77 per cent to Rs 3,808 per barrel with a business turnover of 1,610 lots in futures trading at the Multi Commodity Exchange (MCX).
The oil for delivery in June also moved up by Rs 26 or 0.67 per cent to Rs 3,884 per barrel with a business volume of 613 lots.
Analysts attributed the rise in crude oil futures to a firming trend in Asian trade today as fresh tensions in Yemen and Iraq raised concerns about a supply disruption in the crude-rich Middle East.
Meanwhile, West Texas Intermediate crude for June delivery rose 18 cents at USD 59.87, while Brent crude for July climbed 14 cents to USD 66.95 in late-morning trade at the New York Mercantile Exchange. (PTI)
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