Crude oil futures gain on spot demand, global cues

New Delhi, Jan 16 (PTI) Crude oil prices rose Rs 21 to Rs 4,121 per barrel on Thursday as speculators created fresh positions amid positive trend in the spot market.

On the Multi Commodity Exchange, crude for January delivery traded higher by Rs 21, or 0.51 per cent, at Rs 4,121 per barrel in 18,437 lots.

Analysts said fresh bets created by participants kept crude prices higher in futures trade.

Globally, West Texas Intermediate crude oil was trading 0.38 per cent higher at USD 58.03 per barrel, while Brent crude, the international benchmark, rose 0.36 per cent to USD 64.23 per barrel in New York. PTI SHW RVK