Crude Oil Futures Rise on Spot Demand - PTI
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.
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