Crude Oil Futures Rise on Spot Demand | PTI
May 07, 2024 13:57
Crude oil futures prices climbed on Tuesday in futures trade, driven by firm spot demand. Learn more about the factors influencing crude oil prices.
New Delhi, May 7 (PTI) Crude oil prices on Tuesday climbed Rs 36 to Rs 6,578 per barrel in futures trade as participants widened their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for May delivery traded higher Rs 36 or 0.55 per cent at Rs 6,578 per barrel in 11,393 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude oil was up 0.09 per cent to USD 78.57 per barrel, and Brent crude traded 0.17 per cent higher at USD 83.47 per barrel in New York.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.