Crude Oil Futures Rise on Spot Demand
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Crude oil futures prices rose on Thursday due to increased demand. WTI and Brent crude also traded higher globally.
New Delhi, Apr 24 (PTI) Crude oil prices on Thursday rose Rs 64 to Rs 5,373 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 64 or 1.21 per cent at Rs 5,373 per barrel in 13,908 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.59 per cent higher at USD 62.64 per barrel while Brent crude was trading 0.53 per cent higher at USD 66.47 per barrel in New York.
On the Multi Commodity Exchange, crude oil for May delivery traded higher by Rs 64 or 1.21 per cent at Rs 5,373 per barrel in 13,908 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.59 per cent higher at USD 62.64 per barrel while Brent crude was trading 0.53 per cent higher at USD 66.47 per barrel in New York.
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