Brent crude trading higher at $97.40/bbl

Crude oil prices rose Rs 371 to Rs 8,406 per barrel in futures trade as participants widened their positions following a firm spot demand.

Crude oil for April delivery traded higher by Rs 371, or 4.62 per cent, at Rs 8,406 per barrel in 15,343 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 5.47 per cent higher at $92.02 per barrel, while Brent crude rose 5.89 per cent to $97.40 per barrel in New York.