Crude Oil Futures Rise on Spot Demand - PTI
May 16, 2024 13:15
Crude oil futures climbed Rs 36 to Rs 6,587 per barrel on Thursday, driven by strong spot demand. West Texas Intermediate and Brent crude also saw gains in global markets.
New Delhi, May 16 (PTI) Crude oil prices on Thursday climbed Rs 36 to Rs 6,587 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 6,587 per barrel in 6,137 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude oil was up 0.37 per cent to USD 78.92 per barrel, and Brent crude traded 0.35 per cent higher at USD 83.04 per barrel in New York.
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