Crude oil rises 0.67 pct to Rs 5,531 on global cues from Asian markets

Crude oil prices rose 0.67 per cent to Rs 5,531 per barrel in the futures market as speculators created fresh bets, taking positive cues from Asian markets.

In futures trading at the Multi Commodity Exchange, crude oil for delivery this month rose Rs 37, or 0.67 per cent, to Rs 5,531 per barrel in a business turnover of 1,591 lots.

Speculators built fresh positions after Brent crude oil prices again jumped above USD 84 per barrel in Asian trade, which supported the rise in crude prices at futures trade here, traders said.

Meanwhile, West Texas Intermediate gained 40 cents, or 0.54 per cent, to USD 74.69 while Brent crude rose 49 cents, or 0.58 per cent, to USD 84.40 per barrel.