Crude oil futures prices gained Rs 74 on Wednesday, reaching Rs 6,711 per barrel, driven by strong spot demand and increased bets by participants.
New Delhi, May 29 (PTI) Crude oil prices on Wednesday climbed Rs 74 to Rs 6,711 per barrel in futures trade as participants widened their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for June delivery traded higher Rs 74 or 1.11 per cent at Rs 6,711 per barrel in 6,780 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude oil was up 0.61 per cent to USD 80.32 per barrel, and Brent crude traded 0.49 per cent higher at USD 84.63 per barrel in New York.
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