Crude oil futures gain on spot demand

Crude oil prices on Thursday rose Rs74 to Rs6,005 per barrel in futures trade as participants widened their positions following a firm spot demand. On the Multi Commodity Exchange, crude oil for May delivery traded higher by Rs74 or 1.25 per cent at Rs6,005 per barrel in 12,463 lots.

Analysts said the raising of bets by participants kept crude oil prices higher in futures trade. Globally, West Texas Intermediate crude oil was up by 0.58 per cent at $72.98 per barrel, and Brent crude increased 0.58 per cent to $76.85 per barrel in New York.