Crude oil futures rise on spot demand

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New Delhi, Feb 3 (PTI) Crude oil prices rose by Rs 25 to Rs 4,030 per barrel on Wednesday as participants widened their positions on firm spot demand.

On the Multi Commodity Exchange, crude oil for February delivery traded higher by Rs 25, or 0.62 per cent, at Rs 4,030 per barrel in 5,287 lots.

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

Globally, West Texas Intermediate crude oil gained 0.80 per cent to USD 55.20 per barrel, while Brent crude traded 0.99 per cent higher at USD 58.03 per barrel in New York. PTI SHW RUJ RUJ