Crude oil futures gain on spot demand

New Delhi, Aug 12 (PTI) Crude oil prices on Monday increased Rs 62 to Rs 6,506 per barrel in futures trade as participants widened their positions following a firm spot demand.

On the Multi Commodity Exchange, crude oil for August delivery traded higher Rs 62 or 0.96 per cent at Rs 6,506 per barrel in 10,400 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 0.82 per cent to USD 77.47 per barrel, and Brent crude traded 0.60 per cent higher at USD 80.14 per barrel in New York. PTI SGC SHW