Crude Oil Futures Rise on Spot Demand - PTI
Crude oil prices in India rose on Tuesday driven by strong spot demand. The increase comes despite a decline in global prices for WTI and Brent crude.
New Delhi, Aug 13 (PTI) Crude oil prices on Tuesday increased Rs 33 to Rs 6,695 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 33 or 0.5 per cent at Rs 6,695 per barrel in 11,139 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 0.35 per cent to USD 79.78 per barrel, and Brent crude traded 0.47 per cent lower at USD 81.91 per barrel in New York.
On the Multi Commodity Exchange, crude oil for August delivery traded higher Rs 33 or 0.5 per cent at Rs 6,695 per barrel in 11,139 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 0.35 per cent to USD 79.78 per barrel, and Brent crude traded 0.47 per cent lower at USD 81.91 per barrel in New York.
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