Crude oil futures rise on spot demand, global cues

On the Multi Commodity Exchange, crude oil for delivery in May traded higher by Rs 36, or 1.95 per cent, to Rs 1,881 per barrel in 6,982 lots.

Crude oil prices on Tuesday rose Rs 36 to Rs 1,881 per barrel as participants widened their positions on firm global cues.

Crude oil for June delivery was up by Rs 20, or 1.02 per cent, at Rs 1,979 per barrel with an open interest of 1,396 lots. (File photo)

On the Multi Commodity Exchange, crude oil for delivery in May traded higher by Rs 36, or 1.95 per cent, to Rs 1,881 per barrel in 6,982 lots.

Crude oil for June delivery was up by Rs 20, or 1.02 per cent, at Rs 1,979 per barrel with an open interest of 1,396 lots.

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

Globally, West Texas Intermediate crude oil was trading up by 2.40 per cent at USD 24.72 per barrel and Brent crude rose 0.74 per cent to USD 29.85 per barrel.