Crude Oil Futures Rise on Spot Demand - PTI
Crude oil futures prices gained on the Multi Commodity Exchange, driven by increased spot demand. West Texas Intermediate and Brent crude also saw gains globally.
New Delhi, Aug 26 (PTI) Crude oil prices on Monday increased Rs 74 to Rs 6,367 per barrel in futures trade as participants widened their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for September delivery traded higher Rs 74 or 1.18 per cent at Rs 6,367 per barrel in 9,061 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 1.16 per cent to USD 75.70 per barrel, and Brent crude traded 1.11 per cent higher at USD 79.90 per barrel in New York.
On the Multi Commodity Exchange, crude oil for September delivery traded higher Rs 74 or 1.18 per cent at Rs 6,367 per barrel in 9,061 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 1.16 per cent to USD 75.70 per barrel, and Brent crude traded 1.11 per cent higher at USD 79.90 per barrel in New York.
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