Crude oil futures gain on spot demand, global cues

A crude oil tanker (Reuters Photo)

Crude oil prices on Friday gained Rs 5 to Rs 4,205 per barrel as speculators created fresh positions amid positive trend at the spot market.

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

On the Multi Commodity Exchange, crude for delivery in December traded higher by Rs 5, or 0.12 per cent to Rs 4,205 per barrel in 27,180 lots.

Globally, West Texas Intermediate crude oil was trading 0.64 per cent up at USD 59.56 per barrel.

Meanwhile, Brent crude, the international benchmark rose 0.87 per cent to USD 64.17 per barrel in New York.

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