Crude oil futures inch higher amid firm demand

NEW DELHI: Crude oil prices rose by Rs 7 to Rs 4,749 per barrel on Friday as participants widened their positions on firm spot demand.

On the Multi Commodity Exchange, crude oil for April delivery traded higher by Rs 7, or 0.15 per cent, at Rs 4,749 per barrel in 3,266 lots.

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

Globally, West Texas Intermediate crude oil gained 0.27 per cent to USD 63.63 per barrel, while Brent crude traded 0.27 per cent higher at USD 67.12 per barrel in New York.