Crude oil futures rise on spot demand

News

NEW DELHI: Crude oil prices rose Rs 50 to Rs 5,139 per barrel on Wednesday as participants widened their positions on a firm spot demand.

On the Multi Commodity Exchange, crude oil for the June delivery traded higher by Rs 50, or 0.98 per cent, at Rs 5,139 per barrel in 12,248 lots.

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

Globally, West Texas Intermediate crude oil gained 0.43 per cent to USD 70.35 per barrel, while Brent crude traded 0.40 per cent higher at USD 72.51 per barrel in New York.

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