Crude oil futures up on spot demand

Crude oil prices on Friday rose by Rs 15 to Rs 3,108 per barrel as participants widened their positions on firm spot demand.

On the Multi Commodity Exchange, crude oil for delivery in December traded higher by Rs 15, or 0.48 per cent, at Rs 3,108 per barrel in 3,041 lots.

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

West Texas Intermediate crude oil fell by 0.31 per cent to USD 41.61 per barrel, while Brent crude was trading up by 0.05 per cent at USD 44.22 per barrel in New York.