Brent crude inch higher to $79.90/bbl

Crude oil prices rose 1.4 per cent to Rs 7,190 per barrel in futures trade as participants increased their positions following firm spot demand.

Crude oil for August delivery traded higher by Rs 81 in 8,168 lots. Analysts said the rise of bets by participants kept crude oil prices higher in futures trade.

Globally, West Texas Intermediate crude was trading 0.51 per cent higher at $79.60 per barrel, while Brent crude increased 0.45 per cent to $79.90 per barrel in New York.