Crude oil futures gain on spot demand

Crude oil prices on Friday increased Rs60 to Rs6,132 per barrel in futures trade as participants widened their positions following a firm spot demand. On the Multi Commodity Exchange, crude oil for December delivery traded higher by Rs60 or 0.99 per cent at Rs6,132 per barrel in 15,673 lots. Analysts said raising of bets by participants kept crude oil prices higher in futures trade. Globally, West Texas Intermediate crude oil was up by 0.08 per cent at $72.96 per barrel, and Brent crude traded 0.04 per cent higher at $77.45 per barrel in New York.