Crude oil futures edge higher on firm spot demand

NEW DELHI: Crude oil prices rose by Rs 7 to Rs 4,665 per barrel on Tuesday as participants widened their positions on firm spot demand.

On the Multi Commodity Exchange, crude oil for May delivery traded higher by Rs 7, or 0.15 per cent, at Rs 4,665 per barrel in 6,411 lots.

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

Globally, West Texas Intermediate crude oil gained 0.86 per cent to USD 62.44 per barrel, while Brent crude traded 0.79 per cent lower at USD 66.17 per barrel in New York.

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