Crude oil futures gain on spot demand

New Delhi, Jul 31 (PTI) Crude oil prices on Monday rose Rs 56 to Rs 6,635 per barrel in futures trade as participants increased their positions following a firm spot demand.

On the Multi Commodity Exchange, crude oil for August delivery traded higher by Rs 56 or 0.85 per cent at Rs 6,635 per barrel in 10,697 lots.

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

Globally, West Texas Intermediate crude oil was down by 0.24 per cent at USD 80.39 per barrel, and Brent crude traded 0.28 per cent lower at USD 84.75 per barrel in New York.