Crude Oil Futures Rise on Spot Demand
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Crude oil futures gained on firm spot demand. September delivery up 0.74% at Rs 5,474/barrel. WTI & Brent crude also rise.
New Delhi, Aug 14 (PTI) Crude oil prices on Thursday rose Rs 40 to Rs 5,474 per barrel in futures trade as participants increased their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for September delivery traded higher Rs 40 or 0.74 per cent at Rs 5,474 per barrel in 10,919 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.34 per cent higher at USD 62.99 per barrel while Brent crude rose 0.52 per cent to USD 65.97 per barrel in New York.
On the Multi Commodity Exchange, crude oil for September delivery traded higher Rs 40 or 0.74 per cent at Rs 5,474 per barrel in 10,919 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.34 per cent higher at USD 62.99 per barrel while Brent crude rose 0.52 per cent to USD 65.97 per barrel in New York.
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