Crude oil futures rise on spot demand

Representative image: Reuters File Photo

Crude oil prices on Wednesday rose by Rs 10 to Rs 3,155 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 10, or 0.32 per cent, at Rs 3,155 per barrel in 3,606 lots.

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

Globally, West Texas Intermediate crude oil rose by 0.77 per cent to USD 43.09 per barrel, while Brent crude was trading up 0.75 per cent at USD 45.92 per barrel in New York.