Crude oil futures rise on spot demand

NEW DELHI: Crude oil prices rose Rs 14 to Rs 5,058 per barrel on Friday, as participants widened their positions on a firm spot demand.

On the Multi Commodity Exchange, crude oil for the September delivery traded higher by Rs 14, or 0.28 per cent, at Rs 5,058 per barrel in 5,145 lots.

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

Globally, West Texas Intermediate crude oil was up 1.11 per cent to USD 68.17 per barrel, while Brent crude traded 0.93 per cent higher at USD 71.73 per barrel in New York.


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