Crude oil futures rise to Rs 3,995 per barrel

Crude oil futures rose by Rs 9 to Rs 3,995 per barrel in futures market Tuesday as speculators created fresh positions amid weak global cues.

At the Multi Commodity Exchange, crude oil for delivery in March was trading higher by Rs 9, or 0.23 per cent, to Rs 3,995 per barrel with a business turnover of 14,269 lots.

The crude for delivery in April also moved up by Rs 10, or 0.25 per cent, to Rs 4,039 per barrel with a business volume of 639 lots.

Marketmen attributed the rise in crude oil futures to raising of bets by participants even as overseas market traded on a cautious path.

Meanwhile, West Texas Intermediate crude prices fell 0.46 per cent to trade at USD 56.33 a barrel, while Brent crude was down 3 cents, or 0.43 per cent, at USD 65.39 a barrel on the New York Mercantile Exchange.