Crude oil prices up on firm global cues

Crude oil prices rose 0.17 per cent to Rs 4,026 per barrel in futures trade Thursday as speculators raised their exposure, tracking a rebound in global market. On the Multi Commodity Exchange, crude contracts for September delivery went up by Rs 7, or 0.17 per cent, to Rs 4,026 per barrel in a business turnover of 22,892 lots.

Analysts said the rise in crude oil futures was largely in tandem with a firm trend in the global market. Meanwhile, West Texas Intermediate rose 0.59 per cent to USD 56.11. However, international benchmark Brent fell 0.13 per cent to USD 60.41 per barrel at New York Mercantile Exchange.