Analysts said raising of bets by participants kept crude prices to trade higher here.
The ratings agency said that higher crude prices would also test the Centre's resolve to keep prices of auto-fuels at market-determined levels, which would have material implications for private marketers.
New Delhi: Crude oil prices rose 0.35 per cent to Rs 3,971 per barrel on Tuesday 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 14, or 0.35 per cent to Rs 3,971 barrel in 22,944 lots.
Globally, the West Texas Intermediate was trading lower by 0.33 per cent to USD 54.92. Meanwhile, Brent crude, the international benchmark rose 0.02 per cent to USD 58.67 per barrel in New York.
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