New Delhi: Crude oil prices rose by Rs 57 to Rs 5,063 per barrel in futures trade on Wednesday as participants increased their bets due to strong spot demand.
Crude oil contracts for May delivery traded by Rs 57, or 1.14 percent, at Rs 5,063 per barrel on the Multi Commodity Exchange in a business turnover of 4,901 lots.
Analysts said crude oil prices rose in futures trade as participants raised bets.
Globally, West Texas Intermediate crude was trading 1.34 percent higher at $59.88 per barrel in New York, while Brent crude was up 1.17 percent at $62.88 per barrel.
Crude oil futures rose due to spot demand
