Crude Oil Futures Rise On Spot Demand

Crude oil prices on Tuesday rose by Rs 20 to Rs 2,866 per barrel as participants widened their positions on firm spot demand.

On the Multi Commodity Exchange, crude oil for delivery in November traded higher by Rs 20, or 0.7 per cent, at Rs 2,866 per barrel in 4,278 lots.

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

However, West Texas Intermediate crude oil fell by 0.44 per cent to USD 38.73 per barrel, while Brent crude was trading lower by 0.52 per cent at USD 40.67 per barrel in New York.

(Reuters)