Brent crude trading higher at $91.40/bbl

Crude oil prices on Wednesday climbed Rs164 to Rs7,356 per barrel in futures trade as participants widened their positions following a firm spot demand.

On MCX, crude oil for October delivery traded higher by Rs164 or 2.28 per cent at Rs7,356 per barrel in 2,323 lots. Analysts said raising of bets by participants kept crude oil prices higher in futures trade.

Globally, West Texas Intermediate (WTI) crude oil was up by 1.88 per cent at $88.29 per barrel, and Brent crude traded 1.67 per cent higher at $91.40 per barrel in New York.