Crude oil futures gain on spot demand, global cues

Crude oil prices on Monday gained Rs 14 to Rs 4,255 per barrel as speculators created fresh positions amid positive trend in 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 14, or 0.33 per cent, to Rs 4,255 per barrel in 28,028 lots. Globally, West Texas Intermediate crude oil was trading 0.02 per cent up at USD 60.08 per barrel.

Meanwhile, Brent crude, the international benchmark, rose 0.14 per cent to USD 65.31 per barrel in New York.