Crude oil futures gain on spot demand

Crude oil prices rose Rs 18 to Rs 3,739 per barrel on Thursday as participants widened their positions on a firm spot demand.

On the Multi Commodity Exchange, crude oil for the January delivery traded higher by Rs 18, or 0.48 per cent, at Rs 3,739 per barrel in 2,523 lots.

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


Globally, West Texas Intermediate crude oil gained 0.51 per cent to USD 50.89 per barrel, while Brent crude traded 0.35 per cent higher at USD 54.49 per barrel in New York.