Brent crude trading higher at $94.15/bbl

Crude oil prices rose by Rs31 to Rs7,532 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 0.53 per cent at $90.64 per barrel, and Brent crude traded 0.48 per cent higher at $94.15 per barrel in New York. On MCX, crude oil for September delivery traded higher by Rs31, or 0.41 per cent, at Rs7,532 per barrel in 6,230 lots. Analysts said raising of bets by participants kept crude oil prices higher in futures trade.