Crude oil futures jump 2% on spot demand

NEW DELHI: Crude oil prices rose by Rs 79 to Rs 4,360 per barrel on Tuesday as participants widened their positions on firm spot demand.

On the Multi Commodity Exchange, crude oil for April delivery traded higher by Rs 79, or 1.85 per cent, at Rs 4,360 per barrel in 5248 lots.

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

Globally, West Texas Intermediate crude oil gained 1.40 per cent to USD 59.47 per barrel, while Brent crude traded 1.30 per cent higher at USD 62.96 per barrel in New York.

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