Crude oil futures rise by Rs 15 per barrel

Crude oil futures were higher by Rs 15 to Rs 5,072 per barrel Wednesday after participants widened their bets, even as it weakened overseas.

At the Multi Commodity Exchange, crude oil for delivery in October contracts was trading higher by Rs 15, or 0.30 percent, at Rs 5,072 per barrel with a business turnover of 181 lots.

The crude for September delivery also moved up Rs 13, or 0.26 percent, to Rs 5,068 per barrel with a business volume of 464 lots.

Marketmen attributed the rise in crude oil futures to raising of bets by participants even as it weakened overseas amid a surprise climb in US crude stockpiles.

Meanwhile, West Texas Intermediate crude prices fell 14 cents, or 0.20 percent to trade at USD 69.71 a barrel while Brent crude was down 3 cents, or 0.04 percent, at USD 79 a barrel on the New York Mercantile Exchange.