Crude Oil Futures Rise on Spot Demand - PTI
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Crude oil futures prices gained on the Multi Commodity Exchange (MCX) due to increased participant positions fueled by strong spot demand. Global crude oil prices also rose.
New Delhi, May 2 (PTI) Crude oil prices on Friday rose Rs 22 to Rs 4,994 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 22 or 0.44 per cent at Rs 4,994 per barrel in 18,362 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.20 per cent higher at USD 59.36 per barrel while Brent crude was trading 0.24 per cent higher at USD 62.28 per barrel in New York.
On the Multi Commodity Exchange, crude oil for May delivery traded higher by Rs 22 or 0.44 per cent at Rs 4,994 per barrel in 18,362 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.20 per cent higher at USD 59.36 per barrel while Brent crude was trading 0.24 per cent higher at USD 62.28 per barrel in New York.
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