Crude oil futures gain on spot demand
Crude oil prices on Friday rose by `99 to `7,815 per barrel as participants widened positions on a firm spot demand.
On the Multi Commodity Exchange, crude oil for August delivery traded higher by `99 or 1.28 per cent at `7,815 per barrel in 3,424 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 1.96 per cent at USD 98.31 per barrel, and Brent crude traded 1.60 per cent higher at USD 108.85 per barrel in New York.
