Brent crude trading higher at $78.77/bbl

Crude oil prices increased Rs37 to Rs6,071 per barrel in futures trade as participants widened their positions following a firm spot demand. On MCX, crude oil for January delivery traded higher by Rs37, or 0.61 per cent, at Rs6,071 per barrel in 13,824 lots. Analysts said raising of bets by participants kept crude oil prices higher in futures trade. Globally, West Texas Intermediate (WTI) crude oil was up by 0.80 per cent to $72.77 per barrel, and Brent crude traded 0.64 per cent higher at $78.77 per barrel in New York.