Crude oil futures up on spot demand

Crude oil prices rose Rs 31 to Rs 3,364 per barrel on Wednesday as participants widened their positions on firm spot demand.

On the Multi Commodity Exchange, crude oil for December delivery traded higher by Rs 31, or 0.93 per cent, at Rs 3,364 per barrel in 3,109 lots.

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


Globally, West Texas Intermediate crude oil rose 1.20 per cent to USD 45.45 per barrel, while Brent crude traded 1.40 per cent higher at USD 48.53 per barrel in New York.