Crude Oil Futures Rise on Spot Demand
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Crude oil futures prices rose in India on Wednesday due to increased demand. West Texas Intermediate and Brent crude also saw gains in New York.
New Delhi, Apr 23 (PTI) Crude oil prices on Wednesday rose Rs 93 to Rs 5,545 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 93 or 1.71 per cent at Rs 5,545 per barrel in 14,264 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 1.66 per cent higher at USD 64.73 per barrel while Brent crude was trading 1.60 per cent higher at USD 68.52 per barrel in New York.
On the Multi Commodity Exchange, crude oil for May delivery traded higher by Rs 93 or 1.71 per cent at Rs 5,545 per barrel in 14,264 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 1.66 per cent higher at USD 64.73 per barrel while Brent crude was trading 1.60 per cent higher at USD 68.52 per barrel in New York.
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