Crude oil futures gain on spot demand
Crude oil futures prices in India rose marginally on Thursday, driven by increased spot demand. Global oil prices, however, remained subdued.
New Delhi, Jun 20 (PTI) Crude oil prices on Thursday marginally increased Rs 2 to Rs 6,735 per barrel in futures trade as participants widened their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for July delivery traded higher by Rs 2, or 0.03 per cent, at Rs 6,735 per barrel in 4,296 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 0.31 per cent to USD 81.32 per barrel, and Brent crude traded 0.04 per cent lower at USD 85.04 per barrel in New York.
On the Multi Commodity Exchange, crude oil for July delivery traded higher by Rs 2, or 0.03 per cent, at Rs 6,735 per barrel in 4,296 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 0.31 per cent to USD 81.32 per barrel, and Brent crude traded 0.04 per cent lower at USD 85.04 per barrel in New York.
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