Crude oil futures prices surged on the Multi Commodity Exchange, fueled by increased demand and speculation. WTI and Brent crude also saw gains in global markets.

New Delhi, Apr 22 (PTI) Crude oil prices on Tuesday rose Rs 65 to Rs 5,401 per barrel in futures trade as participants increased their positions following a firm spot demand.

On the Multi Commodity Exchange, crude oil for May delivery traded higher by Rs 66 or 1.28 per cent at Rs 5,401 per barrel in 14,850 lots.

Analysts noted that increased speculation kept crude oil prices elevated in futures trading.

Globally, West Texas Intermediate crude was trading 0.98 per cent higher at USD 63.70 per barrel while Brent crude increased 0.94 per cent to USD 66.88 per barrel in New York.