Crude oil futures gain on global cues

Crude oil prices on Friday gained by Rs 4 to Rs 3,679 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 4, or 0.11 per cent, to Rs 3,679 per barrel in 28,094 lots.

Crude oil for March delivery was up by Rs 8, or 0.22 per cent, to Rs 3,710 per barrel with an open interest of 943 lots.

Globally, West Texas Intermediate was trading higher by 0.16 per cent at $51.50 per barrel.

Meanwhile, Brent crude, the international benchmark, edged up 0.09 per cent to $56.39 per barrel in New York.