Crude oil futures gain on spot demand

Crude oil prices on Thursday rose Rs 23 to Rs 5,528 per barrel in futures trade as participants increased their positions following a firm spot demand.

Crude oil for November delivery traded 0.41 per cent higher in 4,368 lots. Analysts said raising of bets by participants kept crude oil prices higher in futures trade.

Globally, West Texas Intermediate crude was trading 1.31 per cent lower at $62.53 per barrel, while Brent crude rose 0.03 per cent to $66.28 per barrel in New York.