Brent crude trading higher at $75.07/bbl

Crude oil prices climbed Rs47 to Rs6,197 per barrel in futures trade as participants increased their positions following a firm spot demand. Globally, West Texas Intermediate (WTI) crude was trading 0.50 per cent higher at $71.05 per barrel, while Brent crude was trading 0.39 per cent higher at $75.07 per barrel in New York. On MCX, crude oil for March delivery traded higher by Rs47 or 0.76 per cent at Rs6,197 per barrel in 1,481 lots. Analysts said raising of bets by participants kept crude oil prices higher in futures trade.