Crude oil futures prices increased on the Multi Commodity Exchange due to firm spot demand. Analysts attribute the rise to increased bets by participants.
New Delhi, Jul 2 (PTI) Crude oil prices on Tuesday increased Rs 10 to Rs 6,960 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 10 or 0.14 per cent at Rs 6,960 per barrel in 7,707 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude oil was up by 0.10 per cent to USD 83.46 per barrel, and Brent crude traded 0.16 per cent higher at USD 83.46 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.
© 2024 Rediff.com India Limited. All rights reserved. Disclaimer - Terms of Service - Privacy Policy - Feedback