Crude Oil Futures Rise on Spot Demand

Crude oil prices on Friday rose Rs 9 to Rs 2,826 per barrel as participants widened their positions on firm spot demand. On the Multi Commodity Exchange, crude oil for delivery in June traded higher by Rs 9, or 0.32 per cent, at Rs 2,826 per barrel in 6,332 lots.

Crude oil for the July delivery was up by Rs 17, or 0.42 per cent, at Rs 2,868 per barrel with an open interest of 273 lots.

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

Globally, Brent crude rose 0.48 per cent to USD 40.18 per barrel, while West Texas Intermediate crude oil was trading lower by 0.05 per cent at USD 37.39 per barrel.