Crude oil futures rise on spot demand

New Delhi: Crude oil prices on Monday rose by Rs 52 to Rs 2,818 per barrel as participants widened their positions on firm spot demand. On the Multi Commodity Exchange, crude oil for delivery in November traded higher by Rs 52, or 1.88 per cent, at Rs 2,818 per barrel in 2,975 lots.

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

West Texas Intermediate crude oil rose by 2.48 per cent to USD 38.06 per barrel, while Brent crude was trading up by 2.36 per cent at USD 40.38 per barrel in New York.