Crude oil futures rise on spot demand

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New Delhi, Mar 24 (PTI) Crude oil prices rose Rs 65 to Rs 4,298 per barrel on Wednesday as participants widened their positions on a firm spot demand.

On the Multi Commodity Exchange, crude oil for the April delivery traded higher by Rs 65, or 1.54 per cent, at Rs 4,298 per barrel in 5,295 lots.

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

Globally, West Texas Intermediate crude oil gained 1.89 per cent to USD 58.85 per barrel, while Brent crude traded 1.73 per cent higher at USD 61.84 per barrel in New York. PTI SHW HRS hrs