Brent crude trading lower at $63.15/bbl

Crude oil prices rose Rs 12 to Rs 5,247 per barrel in futures trade as participants increased their positions following a firm spot demand. Crude oil for December delivery traded 0.23 per cent higher in 15,784 lots. Analysts said raising of bets by participants kept crude oil prices higher in futures trade.

Globally, West Texas Intermediate (WTI) crude was trading 0.29 per cent lower at $58.67 per barrel, while Brent crude fell 0.35 per cent to $63.15 per barrel in New York.

“Oversupply concerns dragged WTI crude oil prices down to $58.50 level, reversing Monday’s surge amid rising doubts over a Russia-Ukraine peace deal,” Mohammed Imran, Research Analyst, Mirae Asset Sharekhan, said.