Crude oil futures up on spot demand

Crude oil prices rose 0.18 percent to Rs 3,906 per barrel in futures trade Friday as speculators raised their exposure on firm spot demand. On the Multi Commodity Exchange, crude for September contracts went up by Rs 7, or 0.18 percent, to Rs 3,906 per barrel in a business turnover of 26,861 lots.

Analysts said the rise in crude oil futures was largely in tandem with a firm trend in markets here. However, globally, West Texas Intermediate was trading lower 0.02 percent to USD 55.08, while international benchmark Brent dipped 0.20 percent to USD 60.26 per barrel in New York.