Crude oil futures gain on positive global cues

New Delhi, Feb 12 () Crude oil prices on Wednesday rose by Rs 27 to Rs 3,607 per barrel as speculators widened their positions driven by positive overseas trend.

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

On the Multi Commodity Exchange, crude oil for delivery in February traded higher by Rs 27, or 0.75 per cent, to Rs 3,607 per barrel in 25,554 lots.

Crude oil for March delivery was up by Rs 29, or 0.80 per cent, to Rs 3,637 per barrel with an open interest of 1,322 lots.

Globally, West Texas Intermediate was trading higher by 1.36 per cent at USD 50.62 per barrel.

Meanwhile, Brent crude, the international benchmark, edged up 1.85 per cent to USD 55.01 per barrel in New York. VHP RUJRUJ

(This story has not been edited by Business Insider and is auto-generated from a syndicated feed we subscribe to.)

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