Crude oil prices bounce 0.42% on upbeat domestic demand

Crude oil prices rose 0.42 per cent to Rs 4,078 per barrel in futures market Friday as speculators created fresh bets, taking positive cues from domestic markets.

Crude for delivery in March was trading higher by Rs 17, or 0.42 per cent, at Rs 4,078 per barrel in futures trade at the Multi Commodity Exchange in a business turnover of 14,805 lots.

Crude to be delivered in April also traded higher by Rs 17, or 0.41 per cent, at Rs 4,124 per barrel in 631 lots.

Analysts said, speculators built fresh positions after oil prices rose in the global markets, giving lift to crude oil prices in futures trade here.

Meanwhile, West Texas Intermediate gained 0.19 per cent to USD 57.07, while Brent crude traded 0.10 per cent higher at USD 67.14 per barrel.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)