Brent crude trading higher $76.71/bbl

Crude oil prices increased Rs79 to Rs5,942 per barrel in futures trade as participants widened their positions following a firm spot demand. Globally, West Texas Intermediate (WTI) crude oil was up by 0.72 per cent to $71.28 per barrel, and Brent crude traded 0.78 per cent higher at $76.71 per barrel in New York.

On MCX, crude oil for January delivery traded higher by Rs79, or 1.35 per cent, at Rs5,942 per barrel in 16,377 lots. Analysts said raising of bets by participants kept crude oil prices higher in futures trade.