Crude oil futures gain on spot demand

Crude oil prices on Thursday rose by Rs 92 to Rs 7,628 per barrel in futures trade as participants widened positions on a firm spot demand.

On the Multi Commodity Exchange, crude oil for September delivery traded higher by Rs 92 or 1.22 per cent at Rs 7,628 per barrel in 6,067 lots.

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

Globally, West Texas Intermediate crude oil was up by 0.54 per cent at USD 95.40 per barrel, and Brent crude traded 0.74 per cent higher at USD 101.97 per barrel in New York.