Crude oil futures rise on spot demand

NEW DELHI: Crude oil prices rose by Rs 28 to Rs 4,735 per barrel on Friday as participants widened their positions on a firm spot demand.

On the Multi Commodity Exchange, crude oil for March delivery traded higher by Rs 28, or 0.59 per cent, at Rs 4,735 per barrel in 6,075 lots.

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

Globally, West Texas Intermediate crude oil gained 1.30 per cent to USD 64.66 per barrel, while Brent crude traded 1.45 per cent higher at USD 67.71 per barrel in New York.