Crude oil futures rise as participants widen positions

NEW DELHI: Crude oil prices rose by Rs 27 to Rs 4,827 per barrel on Wednesday as participants widened their positions on a firm spot demand.

On the Multi Commodity Exchange, crude oil for the May delivery traded higher by Rs 27, or 0.56 per cent, at Rs 4,827 per barrel in 6,926 lots.

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

Globally, West Texas Intermediate crude oil gained 0.81 per cent to USD 65.81 per barrel, while Brent crude traded 0.74 per cent up at USD 69.06 per barrel in New York.