Crude Oil Futures Rise on Spot Demand - PTI
By Rediff Money Desk, New Delhi Aug 02, 2024 13:09
Crude oil prices in India rose on Friday, driven by increased spot demand. West Texas Intermediate and Brent crude also gained in global markets.
New Delhi, Aug 2 (PTI) Crude oil prices on Friday increased Rs 16 to Rs 6,452 per barrel in futures trade as participants widened their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for August delivery traded higher Rs 16 or 0.25 per cent at Rs 6,452 per barrel in 8,200 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 0.88 per cent to USD 76.98 per barrel, and Brent crude traded 0.78 per cent higher at USD 80.14 per barrel in New York.
On the Multi Commodity Exchange, crude oil for August delivery traded higher Rs 16 or 0.25 per cent at Rs 6,452 per barrel in 8,200 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 0.88 per cent to USD 76.98 per barrel, and Brent crude traded 0.78 per cent higher at USD 80.14 per barrel in New York.
Source: PTI
Read More On:
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.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Rajnish Wellness
- 1.22 ( -4.69)
- 17501421
- Vodafone Idea L
- 9.27 ( -0.96)
- 12996843
- Guj. Toolroom Lt
- 13.50 ( -2.74)
- 4882923
- Srestha Finvest
- 0.67 ( -1.47)
- 4275759
- Mangalam Industrial
- 3.60 (+ 0.84)
- 3965041
MORE NEWS
Denta Water IPO Raises Rs 66 cr from Anchor...
Denta Water and Infra Solutions Ltd has raised Rs 66 crore from anchor investors ahead...
CCI Approves Sequent Scientific Merger,...
The Competition Commission of India (CCI) has cleared the merger of nine entities with...
EU-India FTA: German Chancellor Scholz Hopes...
German Chancellor Olaf Scholz expresses optimism about the success of free trade...