Brent crude trading higher at $85.44/bbl

Crude oil prices increased Rs49 to Rs6,960 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 0.75 per cent to $83.47 per barrel, and Brent crude traded 0.42 per cent higher at $85.44 per barrel in New York. On MCX, crude oil for July delivery traded higher Rs49 or 0.71 per cent at Rs6,960 per barrel in 7,926 lots. Analysts said raising of bets by participants kept crude oil prices higher in futures trade.