Crude oil futures gain on spot demand

Crude oil prices on Friday rose by Rs 23 to Rs 8,060 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 23 or 0.29 percent at Rs 8,060 per barrel in 6,972 lots.

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

Globally, West Texas Intermediate crude oil was up by 0.14 percent at USD 105.51 per barrel, while Brent crude traded 0.39 percent lower at USD 108.01 per barrel in New York.