Crude oil futures rise on spot demand, global cues

NEW DELHI, May 19: Crude oil prices on Tuesday rose Rs 27 to Rs 2,429 per barrel as participants widened their positions on firm global cues.
On the Multi Commodity Exchange, crude oil for delivery in June traded higher by Rs 27, or 1.12 per cent, to Rs 2,429 per barrel in 5,199 lots.
Crude oil for July delivery was up by Rs 13, or 0.52 per cent, at Rs 2,496 per barrel with an open interest of 178 lots.
Analysts said raising of bets by participants kept crude prices higher in futures trade here.
Globally, West Texas Intermediate crude oil was trading up by 1.82 per cent at USD 32.40 per barrel and Brent crude rose 0.34 per cent to USD 34.93 per barrel in New York. (PTI)