Crude oil futures rise on spot demand

New Delhi: Crude oil prices on Wednesday rose by Rs 4 to Rs 2,881 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 4, or 0.14 per cent, at Rs 2,881 per barrel in 2,876 lots.

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

However, West Texas Intermediate crude oil fell by 0.71 per cent to USD 39.01 per barrel, while Brent crude was trading lower by 0.68 per cent at USD 40.75 per barrel in New York.