Crude oil futures gain on spot demand

New Delhi: Crude oil prices on Tuesday increased by Rs 152 to Rs 7,865 per barrel as participants widened positions on a firm spot demand.

On the Multi Commodity Exchange, crude oil for August delivery traded higher by Rs 152 or 1.97 per cent at Rs 7,865 per barrel in 3,575 lots.

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

Globally, West Texas Intermediate crude oil was up 1.75 per cent at USD 98.39 per barrel, and Brent crude traded 1.68 per cent higher at USD 106.92 per barrel in New York.

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