Crude oil futures gain on spot demand

Crude oil prices rose Rs 30 to Rs 5,285 per barrel in futures trade as participants increased their positions following a firm spot demand.

Crude oil for January delivery traded 0.57 per cent higher in 6,567 lots. Analysts said the rise of bets by participants kept crude oil prices higher in futures trade.

Globally, West Texas Intermediate crude was trading 0.36 per cent higher at $58.24/barrel, while Brent crude rose 0.40 per cent to $61.96 per barrel in New York.