Crude oil futures rise on spot demand

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New Delhi, Feb 22 (PTI) Crude oil prices rose Rs 34 to Rs 4,338 per barrel on Monday as participants widened their positions on a firm spot demand.

On the Multi Commodity Exchange, crude oil for March delivery traded higher by Rs 34, or 0.79 per cent, at Rs 4,338 per barrel in 3,931 lots.

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

Globally, West Texas Intermediate crude oil gained 0.64 per cent to USD 59.62 per barrel, while Brent crude traded 0.84 per cent higher at USD 63.44 per barrel in New York. PTI SHW RUJ RUJ