Crude oil futures rise marginally as participants widen positions

Crude oil rose by Rs 11 to Rs 4,945 per barrel in futures market today as speculators widened their bets, ignoring negative cues from Asian markets.

At the Multi Commodity Exchange, crude oil for delivery in October was trading higher by Rs 11, or 0.22 percent, to Rs 4,945 per barrel in a business turnover of 15 lots.

Likewise, the oil for delivery in September gained Rs 6, or 0.12 percent, to Rs 4,940 per barrel in 856 lots.

Analysts said raising of bets by traders pushed up crude oil prices, but a weak trend in Asian trade limited the gains.

Meanwhile, West Texas Intermediate crude fell by 12 cents, or 0.17 percent, to USD 68.60 while global benchmark Brent was down 5 cents, or 0.06 percent, at USD 77.22 a barrel.