Crude Oil Futures Rise on Spot Demand
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Crude oil futures prices increased by Rs 133 to Rs 5,336 per barrel due to firm spot demand. Global crude oil prices also saw significant gains.
New Delhi, Jun 2 (PTI) Crude oil prices on Monday rose Rs 133 to Rs 5,336 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 133 or 2.56 per cent at Rs 5,336 per barrel in 8,893 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 2.98 per cent higher at USD 62.60 per barrel while Brent crude rose 2.53 per cent to USD 64.37 per barrel in New York.
On the Multi Commodity Exchange, crude oil for June delivery traded higher by Rs 133 or 2.56 per cent at Rs 5,336 per barrel in 8,893 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 2.98 per cent higher at USD 62.60 per barrel while Brent crude rose 2.53 per cent to USD 64.37 per barrel in New York.
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