Crude oil futures rise on positive overseas cues

New Delhi, Apr 29 () Crude oil prices on Wednesday rose Rs 97 to Rs 1,102 per barrel as participants widened their positions in line with a positive trend overseas.

On the Multi Commodity Exchange, crude oil for delivery in May traded higher by Rs 97, or 9.65 per cent, to Rs 1,102 per barrel in 13,882 lots.

Crude oil for June delivery was up by Rs 36, or 2.52 per cent, to Rs 1,464 per barrel with an open interest of 501 lots.

Analysts said raising of bets by participants kept crude prices higher in futures trade here.

Globally, West Texas Intermediate was trading higher by 14.75 per cent at USD 14.16 per barrel and Brent Crude was up by 4.01 per cent at USD 21.28 per barrel in New York. SHW SHW RUJRUJ