Crude oil futures rise on spot demand

Crude oil prices rose by Rs 20 to Rs 3,538 per barrel on Thursday as participants widened their positions on a firm spot demand.

On the Multi Commodity Exchange, crude oil for January delivery traded higher by Rs 20, or 0.57 per cent, at Rs 3,538 per barrel in 1,285 lots.

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

However, globally, West Texas Intermediate crude oil fell by 0.19 per cent to USD 48.31 per barrel, while Brent crude traded 0.49 per cent higher at USD 51.34 per barrel in New York.