Crude oil futures rise on spot demand

New Delhi, Feb 3 () Crude oil prices on Monday rose by Rs 14 to Rs 3,691 per barrel as speculators created fresh positions on spot demand.

On the Multi Commodity Exchange, crude oil for delivery in February traded higher by Rs 14, or 0.38 per cent, to Rs 3,691 per barrel in 59,150 lots.

Crude oil for March delivery was up by Rs 8, or 0.22 per cent, at Rs 3,710 per barrel with an open interest of 2,232 lots.

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

Globally, West Texas Intermediate was trading higher by 0.14 per cent to USD 51.63 per barrel.

However, Brent crude, the international benchmark, edged lower by 0.44 per cent to USD 56.37 per barrel in New York. VHP SHW SHW