Crude oil futures gain on spot demand

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

New Delhi: Crude oil prices on Friday rose Rs 25 to Rs 5,798 per barrel in futures trade as participants increased their positions following a firm spot demand.

On the Multi Commodity Exchange, crude oil for October delivery traded higher Rs 25 or 0.43 per cent at Rs 5,798 per barrel in 10,965 lots.

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

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Globally, West Texas Intermediate crude was trading 0.34 per cent higher at USD 65.20 per barrel, while Brent crude rose 0.16 per cent to USD 69.53 per barrel in New York.

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