Crude oil futures rise on spot demand

Crude oil prices rose by Rs 18 to Rs 3,865 per barrel on Tuesday as participants widened their positions on a firm spot demand.

On the Multi Commodity Exchange, crude oil for January delivery traded higher by Rs 18, or 0.47 per cent, at Rs 3,865 per barrel in 2,621 lots.

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

Globally, West Texas Intermediate crude oil gained 0.73 per cent to USD 52.63 per barrel, while Brent crude traded 0.61 per cent up at USD 56.00 per barrel in New York.