Crude oil futures rise on firm spot demand

Representative Image. Credit: Getty Images

Crude oil prices on Monday rose Rs 40 to Rs 3,195 per barrel as participants widened their positions on firm spot demand.

On the Multi Commodity Exchange, crude oil for delivery in September traded higher by Rs 40, or 1.27 per cent, at Rs 3,195 per barrel in 3,261 lots.

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

Globally, West Texas Intermediate crude oil rose 0.68 per cent to $42.63 per barrel, while brent crude was trading up 0.70 per cent at $44.66 per barrel in New York.