Crude oil futures up on positive cues

New Delhi: Crude oil prices rose by Rs 3 to Rs 3,909 per barrel in futures market on Tuesday as speculators created fresh positions, taking positive cues from physical spot markets.

On the Multi Commodity Exchange, crude for delivery in August was trading higher by Rs 3, or 0.08 per cent, at Rs 3,909 per barrel in a business turnover of 23,819 lots.

Analysts said speculative positions created by traders led to the rise in oil prices.

Globally, however, West Texas Intermediate was trading lower 0.36 per cent to USD 54.73, while global benchmark Brent was up 0.39 per cent to USD 58.34 per barrel.