Crude oil futures rise on spot demand

New Delhi: Crude oil prices on Tuesday rose by Rs 53 to Rs 2,941 per barrel as participants widened their positions on firm spot demand. On the Multi Commodity Exchange, crude oil for delivery in October traded higher by Rs 53, or 1.84 per cent, at Rs 2,941 per barrel in 3,121 lots.

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

Globally, West Texas Intermediate crude oil rose by 0.08 per cent to USD 39.34 per barrel, while Brent crude was trading up 0.53 per cent at USD 41.66 per barrel in New York.