Brent crude trade higher at $71.46/bbl

Crude oil prices rose Rs 50 to Rs 6,095 per barrel in futures trade as participants widened their positions following a firm spot demand.

Crude oil for March delivery traded higher by 0.83 per cent in 15,375 lots. Analysts said the rise in bets by participants kept crude oil prices higher in the futures market.

Globally, West Texas Intermediate crude was trading 0.60 per cent higher at $66.71 per barrel, while Brent crude rose 0.49 per cent to $71.46 per barrel in New York.