Brent crude trading higher at $85.49/bbl

Crude oil prices on Wednesday increased by Rs22 to Rs6,804 per barrel in futures trade as participants widened their positions following a firm spot demand. Globally, West Texas Intermediate (WTI) crude oil was up by 0.46 per cent at $81.39 per barrel, and Brent crude traded 0.55 per cent higher at $85.49 per barrel in New York. On MCX, crude oil for November delivery traded higher by Rs22 or 0.32 per cent at Rs6,804 per barrel in 7,091 lots. Analysts said raising of bets by participants kept crude oil prices higher in futures trade.