Brent crude trading lower at $71.77/bbl

Crude oil prices rose Rs7 to Rs5,939 per barrel in futures trade as participants increased their positions following a firm spot demand. Globally, West Texas Intermediate (WTI) crude oil was down by 0.03 per cent at $71.77 per barrel, while Brent crude traded 0.25 per cent lower at $76.46 per barrel in New York. On MCX, crude oil for July delivery traded higher by Rs7 or 0.12 per cent at Rs5,939 per barrel in 10,495 lots. Analysts said the raising of bets by participants kept crude oil prices higher in futures trade.