Crude oil futures up on spot demand

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New Delhi, Jan 1 (PTI) Crude oil prices rose by Rs 16 to Rs 3,540 per barrel on Friday as participants widened their positions on firm spot demand.

On the Multi Commodity Exchange, crude oil for January delivery traded higher by Rs 16, or 0.45 per cent, at Rs 3,540 per barrel in 1,222 lots.

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

Globally, West Texas Intermediate crude oil rose by 0.25 per cent to USD 48.52 per barrel, while Brent crude traded 0.33 per cent higher at USD 51.80 per barrel in New York. PTI SHW RUJ RUJ