Crude oil futures gain on spot demand

Crude oil prices on Monday rose Rs55 to Rs5,364 per barrel in futures trade as participants increased their positions following a firm spot demand.

On the Multi Commodity Exchange, crude oil for December delivery traded higher by Rs55 or 1.04 per cent at Rs5,364 per barrel in 4,304 lots. Analysts said raising of bets by participants kept crude oil prices higher in futures trade.

Globally, West Texas Intermediate crude was trading 0.95 per cent higher at $60.32 per barrel, while Brent crude rose 0.85 per cent to $64.15 per barrel in New York.