Crude Oil Futures Rise on Spot Demand
Crude oil futures prices increased on Tuesday due to strong spot demand. The rise was fueled by increased bets by participants. Global crude oil prices experienced mixed performance.
New Delhi, Aug 27 (PTI) Crude oil prices on Tuesday increased Rs 9 to Rs 6,492 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 9 or 0.14 per cent at Rs 6,492 per barrel in 7,944 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude oil was down by 0.34 per cent to USD 77.16 per barrel, and Brent crude traded 0.17 per cent lower at USD 81.29 per barrel in New York.
On the Multi Commodity Exchange, crude oil for September delivery traded higher Rs 9 or 0.14 per cent at Rs 6,492 per barrel in 7,944 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude oil was down by 0.34 per cent to USD 77.16 per barrel, and Brent crude traded 0.17 per cent lower at USD 81.29 per barrel in New York.
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