Crude oil futures rise on spot demand

Crude oil prices rose by Rs 29 to Rs 4,654 per barrel on Friday as participants widened their positions on firm spot demand.

On the Multi Commodity Exchange, crude oil for May delivery traded higher by Rs 29, or 0.63 per cent, at Rs 4,654 per barrel in 5,375 lots.

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

Globally, West Texas Intermediate crude oil gained 0.86 per cent to USD 61.96 per barrel, while Brent crude traded 0.67 per cent higher at USD 65.84 per barrel in New York.