Crude oil futures prices increased on Wednesday due to strong spot demand, with the October contract gaining Rs 7 to Rs 5,990 per barrel on the Multi Commodity Exchange.
New Delhi, Sep 25 (PTI) Crude oil prices on Wednesday increased Rs 7 to Rs 5,990 per barrel in futures trade as participants widened their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for October delivery traded higher Rs 7 or 0.12 per cent at Rs 5,990 per barrel in 13,055 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 0.13 per cent to USD 71.47 per barrel, and Brent crude traded 0.05 per cent higher at USD 75.13 per barrel in New York.
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