Crude oil futures up on spot demand

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New Delhi, Dec 29 (PTI) Crude oil prices rose by Rs 2 to Rs 3,542 per barrel on Tuesday as participants widened their positions on firm spot demand.

On the Multi Commodity Exchange, crude oil for January delivery traded higher by Rs 2, or 0.06 per cent, at Rs 3,542 per barrel in 1,657 lots.

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

Globally, West Texas Intermediate crude oil gained 1.01 per cent to USD 48.10 per barrel, while Brent crude traded 0.98 per cent higher at USD 51.36 per barrel in New York. PTI SHW RUJ RUJ