Crude oil futures gain on spot demand, global cues

Analysts said fresh bets created by participants kept crude prices higher in futures trade.

Update: 2019-12-27 08:58 GMT

Crude oil for December was quoting higher by Rs 10, or 0.25 per cent, at Rs 3,972 per barrel in 269 lots.

New Delhi: Crude oil prices rose Rs 5 to Rs 4,408 per barrel on Friday as speculators created fresh positions amid positive trend in the spot market.

Analysts said fresh bets created by participants kept crude prices higher in futures trade.

On the Multi Commodity Exchange, crude for January delivery traded higher by Rs 5, or 0.11 per cent, at Rs 4,408 per barrel in 35,957 lots.

Globally, West Texas Intermediate crude oil was trading 0.39 per cent higher at USD 61.92 per barrel.

Meanwhile, Brent crude, the international benchmark, rose 0.37 per cent to USD 68.17 per barrel in New York.