Crude oil futures rise on spot demand

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New Delhi, Feb 2 (PTI) Crude oil prices rose by Rs 59 to Rs 3,964 per barrel on Tuesday as participants widened their positions on firm spot demand.

On the Multi Commodity Exchange, crude oil for February delivery traded higher by Rs 59, or 1.51 per cent, at Rs 3,964 per barrel in 5,033 lots.

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

Globally, West Texas Intermediate crude oil gained 1.33 per cent to USD 54.26 per barrel, while Brent crude traded 1.21 per cent higher at USD 57.03 per barrel in New York. PTI SHW RUJ RUJ