Crude oil prices surge by Rs 212 to Rs 8,543 per barrel on spot demand

Crude oil prices on Tuesday surged by Rs 212 to Rs 8,543 per barrel as participants widened their positions on a firm spot demand.

On the Multi Commodity Exchange, crude oil for April delivery traded higher by Rs 212 or 2.54 per cent to Rs 8,543 per barrel in 7,644 lots.

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

Globally, West Texas Intermediate crude oil was up by 1.33 per cent at $113.61 per barrel, while Brent crude traded 1.45 per cent higher at $117.30 per barrel in New York.

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(With inputs from PTI)