Brent crude trading higher at $62.95/bbl

Crude oil prices on Thursday rose Rs 6 to Rs 5,362 per barrel in futures trade as participants increased their positions following a firm spot demand.

On the Multi Commodity Exchange, crude oil for January delivery traded higher Rs 6 or 0.11 per cent at Rs 5,362 per barrel in 13,300 lots. Analysts said raising of bets by participants kept crude oil prices higher in futures trade.

Globally, West Texas Intermediate crude was trading 0.56 per cent higher at $59.28 per barrel, while Brent crude rose 0.45 per cent to $62.95 per barrel in New York.