Crude oil futures gain on spot demand

Crude oil prices on Friday rose by Rs 13 to Rs 7,878 per barrel as participants widened their positions on a firm spot demand.

On the Multi Commodity Exchange, crude oil for May delivery traded higher by Rs 13 or 0.17 per cent at Rs 7,878 per barrel in 4,320 lots.

Analysts said raising of bets by participants kept crude oil prices higher in futures trade.

Globally, West Texas Intermediate crude oil was down by 0.71 per cent at USD 103.05 per barrel, while Brent crude traded 0.65 per cent lower at USD 107.63 per barrel in New York.