Crude oil prices rose 0.23 percent to Rs 4,430 per barrel on May 17, as speculators created fresh positions amid positive global cues. Analysts said raising of bets by participants kept crude prices higher at futures trade here.
On the Multi Commodity Exchange, crude for delivery in May contracts was trading higher by Rs 10, or 0.23 per cent, to Rs 4,430 per barrel in a business turnover of 17,895 lots.
In international markets too, oil prices gathered steam on the back of Saudi-led coalition's retaliation for attacks on its oil infrastructures but uncertainty over the Opec supply capped the gains.
Meanwhile, the West Texas Intermediate gained 0.45 percent to USD 63.15. Brent crude, the international benchmark, recovered 0.25 percent to USD 72.80 per barrel in New York.
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