Crude oil futures up on spot demand

Crude oil prices rose by Rs 51 to Rs 3,436 per barrel on Friday as participants widened their positions on firm spot demand. On the Multi Commodity Exchange, crude oil for December delivery traded higher by Rs 51, or 1.51 per cent, at Rs 3,436 per barrel in 1,881 lots. Analysts said raising of bets by participants kept crude oil prices higher in futures trade.

Crude oil prices rose by Rs 51 to Rs 3,436 per barrel on Friday as participants widened their positions on firm spot demand. On the Multi Commodity Exchange, crude oil for December delivery traded higher by Rs 51, or 1.51 percent, at Rs 3,436 per barrel in 1,881 lots.

Analysts said the raising of bets by participants kept crude oil prices higher in futures trade. Globally, West Texas Intermediate crude oil rose 1.82 percent to USD 46.47 per barrel, while Brent crude traded 2.05 percent higher at USD 49.71 per barrel in New York.