Crude oil futures rise on spot demand

Crude oil prices rose Rs 24 to Rs 5,017 per barrel on Thursday, as participants widened their positions on a firm spot demand.

On the Multi Commodity Exchange, crude oil for the September delivery traded higher by Rs 24, or 0.48 per cent, at Rs 5,017 per barrel in 4,535 lots.

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

Globally, West Texas Intermediate crude oil was up 0.01 per cent to USD 68.6 per barrel, while Brent crude traded 0.04 per cent higher at USD 71.62 per barrel in New York.