Crude oil futures up on spot demand, global cues

New Delhi, Feb 25 () Crude oil prices on Tuesday edged up by Rs 70 to Rs 3,732 per barrel as speculators increased their holdings driven by firm trend overseas.

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

On the Multi Commodity Exchange, crude oil for delivery in March traded higher by Rs 70, or 1.91 per cent, to Rs 3,732 per barrel in 45,390 lots.

Crude oil for April delivery was up by Rs 69, or 1.87 per cent, to Rs 3,758 per barrel with an open interest of 717 lots.

Globally, West Texas Intermediate was trading higher by 0.45 per cent at USD 51.66 per barrel.

Meanwhile Brent crude, the international benchmark, edged higher by 0.50 per cent to USD 56.58 per barrel in New York. VHP SHWSHW