Crude oil prices rise on spot demand

Crude oil prices on Monday rose 0.86 per cent to Rs 3,972 per barrel in futures trade as speculators raised their exposure, despite tracking a weak trend in global markets.

Analysts said the rise crude oil futures was largely in tandem with a firm demand in spot market.

On the Multi Commodity Exchange, crude for November delivery was up by Rs 34, or 0.86 per cent, to Rs 3,972 per barrel in 22,809 lots.

Meanwhile, West Texas Intermediate crude was trading flat at USD 56.20 per barrel, while international benchmark Brent was trading 0.02 per cent lower at USD 61.68 per barrel on the New York Mercantile Exchange.