Crude oil futures rise on spot demand

New Delhi: Crude oil prices on Monday rose by Rs 10 to Rs 3,005 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 10, or 0.33 per cent, at Rs 3,005 per barrel in 2,215 lots.

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

West Texas Intermediate crude oil rose by 0.22 per cent to USD 40.97 per barrel, while Brent crude was trading up by 0.12 per cent at USD 42.98 per barrel in New York.