Brent crude trades 0.75% higher

Crude oil prices on Friday rose by Rs49 to Rs6,260 per barrel in futures trade as participants increased their positions following a firm spot demand. On MCX, crude oil for August delivery traded higher by Rs49 or 0.79 per cent at Rs6,260 per barrel in 6,832 lots. Analysts said raising of bets by participants kept crude oil prices higher in futures trade. Globally, West Texas Intermediate crude oil was up by 0.83 per cent at $76.28 per barrel, and Brent crude traded 0.75 per cent higher at $80.24 per barrel in New York.