Crude Oil Futures Rise on Spot Demand - PTI
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Crude oil prices in India surged on Thursday, driven by increased demand in the spot market. Global oil benchmarks also saw gains, with WTI and Brent crude trading higher.
New Delhi, Apr 17 (PTI) Crude oil prices on Thursday rose Rs 52 to Rs 5,393 per barrel in futures trade as participants increased their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for May delivery traded higher by Rs 52 or 0.97 per cent at Rs 5,393 per barrel in 5,190 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.75 per cent higher at USD 62.94 per barrel while Brent crude was trading 0.61 per cent higher at USD 66.25 per barrel in New York.
On the Multi Commodity Exchange, crude oil for May delivery traded higher by Rs 52 or 0.97 per cent at Rs 5,393 per barrel in 5,190 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.75 per cent higher at USD 62.94 per barrel while Brent crude was trading 0.61 per cent higher at USD 66.25 per barrel in New York.
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