Crude oil futures rise on spot demand

New Delhi: Crude oil futures rose by Rs 4 to Rs 2,954 per barrel on Thursday as participants widened their positions on firm spot demand. On the Multi Commodity Exchange, crude oil for November delivery traded higher by Rs 4, or 0.14 per cent, at Rs 2,954 per barrel in 3,196 lots.

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

Globally, West Texas Intermediate crude oil rose 0.20 per cent to USD 40.11 per barrel, while Brent crude traded 0.36 per cent higher at USD 41.88 per barrel in New York.