Crude Oil Futures Rise on Spot Demand | PTI
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Crude oil futures prices rose in India on Wednesday due to increased demand and bullish bets. Global benchmarks WTI and Brent crude also traded higher.
New Delhi, May 7 (PTI) Crude oil prices on Wednesday rose Rs 57 to Rs 5,063 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 57 or 1.14 per cent at Rs 5,063 per barrel in 4,901 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 1.34 per cent higher at USD 59.88 per barrel while Brent crude was trading 1.17 per cent higher at USD 62.88 per barrel in New York.
On the Multi Commodity Exchange, crude oil for May delivery traded higher by Rs 57 or 1.14 per cent at Rs 5,063 per barrel in 4,901 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 1.34 per cent higher at USD 59.88 per barrel while Brent crude was trading 1.17 per cent higher at USD 62.88 per barrel in New York.
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