Crude oil futures rise on spot demand

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New Delhi, Jan 8 (PTI) Crude oil prices rose by Rs 20 to Rs 3,758 per barrel on Friday as participants widened their positions on firm spot demand.

On the Multi Commodity Exchange, crude oil for January delivery traded higher by Rs 20, or 0.54 per cent, at Rs 3,758 per barrel in 2,582 lots.

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

Globally, West Texas Intermediate crude oil rose by 0.47 per cent to USD 51.07 per barrel, while Brent crude traded 0.57 per cent higher at USD 54.69 per barrel in New York. PTI SHW RUJ RUJ