Crude oil futures inch higher as participants widen positions

NEW DELHI: Crude oil prices rose by Rs 9 to Rs 4,761 per barrel on Thursday as participants widened their positions on firm spot demand.

On the Multi Commodity Exchange, crude oil for April delivery traded higher by Rs 9, or 0.19 per cent, at Rs 4,761 per barrel in 5,520 lots.

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

Globally, West Texas Intermediate crude oil gained 1.30 per cent to USD 63.34 per barrel, while Brent crude traded 0.38 per cent lower at USD 66.83 per barrel in New York.

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