Crude oil prices rose 2.1 per cent to Rs 3,992 per barrel on Wednesday as speculators created fresh positions on firm global cues. Analysts said raising of bets by participants kept crude prices to trade higher here.
On the Multi Commodity Exchange, crude for delivery in September contracts was trading higher by Rs 82, 2.1 per cent to Rs 3,992 barrel in 20,249 lots.
Globally, the West Texas Intermediate was trading higher by 1.22 per cent to USD 55.60. Meanwhile, Brent crude, the international benchmark rose 0.94 per cent to USD 60.07 per barrel in New York. Read more
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