Crude oil futures rise on spot demand

01 Sept. 2020-New Delhi: Crude oil prices on Monday rose by Rs 42 to Rs 3,191 per barrel as participants widened their positions on firm spot demand. On the Multi Commodity Exchange, crude oil for September delivery traded higher by Rs 42, or 1.33 per cent, at Rs 3,191 per barrel in 3,205 lots.

Analysts said raising of bets by participants kept crude oil prices higher in futures trade. Globally, West Texas Intermediate crude oil was trading up by 0.79 per cent at USD 43.31 per barrel, while Brent crude was quoting 1.18 per cent higher at USD 46.35 per barrel in New York.