Crude Oil Futures Rise on Spot Demand
Crude oil futures prices surged on Friday, driven by robust spot demand. Participants increased their positions, leading to a rise in prices. Global crude oil markets also saw mixed trends.
New Delhi, Aug 30 (PTI) Crude oil prices on Friday increased Rs 48 to Rs 6,410 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 48 or 0.75 per cent at Rs 6,410 per barrel in 6,456 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 0.62 per cent to USD 76.38 per barrel, and Brent crude traded 0.53 per cent lower at USD 80.36 per barrel in New York.
On the Multi Commodity Exchange, crude oil for September delivery traded higher Rs 48 or 0.75 per cent at Rs 6,410 per barrel in 6,456 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 0.62 per cent to USD 76.38 per barrel, and Brent crude traded 0.53 per cent lower at USD 80.36 per barrel in New York.
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