Crude oil futures rise on global cues

Crude oil prices rose 1.88 percent to Rs 3,856 per barrel on Friday as speculators created fresh positions amid positive global trends. Analysts said raising of bets by participants kept crude prices higher in futures trade.

On the Multi Commodity Exchange, crude for delivery in October traded higher by Rs 71, 1.88 percent, to Rs 3,856 per barrel in 21,925 lots. For November delivery, crude oil was quoting higher by Rs 66, or 1.74 percent, to Rs 3,870 per barrel with 742 lots.

Globally, the West Texas Intermediate was trading up 1.05 percent to USD 54.11 per barrel. Meanwhile, Brent crude, the international benchmark edged up 1.07 percent to USD 59.73 per barrel in New York.