Brent crude trading above $92/bbl

Crude oil prices rose by Rs51 to Rs7,389 per barrel in futures trade as participants increased their positions following a firm spot demand. Globally, West Texas Intermediate (WTI) crude oil was up by 0.66 per cent at $89.10 per barrel, and Brent crude traded 0.61 per cent higher at $92.44 per barrel in New York.

On MCX, crude oil for September delivery traded higher by Rs51, or 0.7 per cent, at Rs7,389 per barrel in 6,544 lots. Analysts said raising of bets by participants kept crude oil prices higher in futures trade.