Crude oil futures prices increased on the Multi Commodity Exchange on Friday, driven by firm spot demand and increased bets from participants. WTI and Brent crude also saw gains in global markets.
New Delhi, Jul 12 (PTI) Crude oil prices on Friday increased Rs 52 to Rs 6,945 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 Rs 52 or 0.75 per cent at Rs 6,945 per barrel in 6,967 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 0.73 per cent to USD 83.22 per barrel, and Brent crude traded 0.59 per cent higher at USD 85.90 per barrel in New York.
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