Crude Oil Futures Rise on Spot Demand
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Crude oil prices in India rose on Friday due to increased spot demand, with June futures trading higher on the Multi Commodity Exchange.
Photograph: Carlos Garcia Rawlins/Reuters
New Delhi, May 9 (PTI) Crude oil prices on Friday rose Rs 13 to Rs 5,176 per barrel in futures trade as participants increased their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for June delivery traded higher by Rs 13 or 0.25 per cent at Rs 5,176 per barrel in 14,353 lots.
Analysts said the rise in bets by participants kept crude oil prices higher in futures trading.
Globally, West Texas Intermediate crude was trading 0.45 per cent higher at USD 60.18 per barrel while Brent crude was trading 0.41 per cent higher at USD 63.10 per barrel in New York.
On the Multi Commodity Exchange, crude oil for June delivery traded higher by Rs 13 or 0.25 per cent at Rs 5,176 per barrel in 14,353 lots.
Analysts said the rise in bets by participants kept crude oil prices higher in futures trading.
Globally, West Texas Intermediate crude was trading 0.45 per cent higher at USD 60.18 per barrel while Brent crude was trading 0.41 per cent higher at USD 63.10 per barrel in New York.
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