Crude oil futures rise on firm demand

New Delhi, Jul 15 () Crude oil prices on Wednesday rose by Rs 31 to Rs 3,066 per barrel as participants widened their positions on firm spot demand.

On the Multi Commodity Exchange, crude oil for delivery in July traded higher by Rs 31, or 1.02 per cent, at Rs 3,066 per barrel in 4,572 lots.

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

Globally, West Texas Intermediate crude oil rose 1.04 per cent to USD 40.71 per barrel, while Brent Crude was trading up by 0.89 per cent at USD 43.28 per barrel in New York. SHW RUJ RUJ