Crude oil futures move higher on spot demand

NEW DELHI: Crude oil prices rose by Rs 27 to Rs 4,513 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 27, or 0.6 per cent, at Rs 4,513 per barrel in 6,616 lots.

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

However, globally, West Texas Intermediate crude oil traded lower by 0.21 per cent to USD 61.38 per barrel, while Brent crude traded 0.20 per cent down at USD 64.85 per barrel in New York.

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