Crude oil futures rise on spot demand

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New Delhi, Jul 31 (PTI) Crude oil prices on Friday rose by Rs 28 to Rs 3,020 per barrel as participants widened their positions on firm spot demand.

On the Multi Commodity Exchange, crude oil for delivery in August traded higher by Rs 28, or 0.94 per cent, at Rs 3,020 per barrel in 4,009 lots.

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

Globally, West Texas Intermediate crude oil rose 1.13 per cent to USD 40.37 per barrel, while Brent Crude was trading up by 1.02 per cent at USD 43.38 per barrel in New York. PTI SHW RUJ RUJ