Crude oil futures gain on spot demand
Crude oil futures on the Multi Commodity Exchange gained Rs 17 on Tuesday, driven by strong spot demand and increased bets by participants.
New Delhi, Jun 18 (PTI) Crude oil prices on Tuesday increased Rs 17 to Rs 6,687 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 by Rs 17, or 0.25 per cent, at Rs 6,687 per barrel in 2,817 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude oil was down by 0.25 per cent to USD 80.13 per barrel, and Brent crude traded 0.24 per cent higher at USD 84.05 per barrel in New York.
On the Multi Commodity Exchange, crude oil for June delivery traded higher by Rs 17, or 0.25 per cent, at Rs 6,687 per barrel in 2,817 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude oil was down by 0.25 per cent to USD 80.13 per barrel, and Brent crude traded 0.24 per cent higher at USD 84.05 per barrel in New York.
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