Crude oil futures gain on spot demand

New Delhi, Apr 8 (PTI) Crude oil prices on Friday rose by Rs 122 to Rs 7,400 per barrel as participants widened their positions on a firm spot demand.

On the Multi Commodity Exchange, crude oil for April delivery traded higher by Rs 122 or 1.68 per cent to Rs 7,400 per barrel in 5,802 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 1.45 per cent to USD 97.42 per barrel, while Brent crude traded 1.41 per cent higher at USD 102 per barrel in New York.