Crude Oil Futures Rise on Spot Demand
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Crude oil futures prices rise on firm spot demand. May delivery up 6.95% at Rs 8,199 per barrel on MCX. WTI & Brent crude also up.
New Delhi, Apr 20 (PTI) Crude oil prices on Monday rose by Rs 533 to Rs 8,199 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 533 or 6.95 per cent at Rs 8,199 per barrel in 8,635 lots.
Analysts said the rise of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 5.78 per cent higher at USD 88.70 per barrel, while Brent crude rose 5.20 per cent to USD 95.08 per barrel in New York.
On the Multi Commodity Exchange, crude oil for May delivery traded higher by Rs 533 or 6.95 per cent at Rs 8,199 per barrel in 8,635 lots.
Analysts said the rise of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 5.78 per cent higher at USD 88.70 per barrel, while Brent crude rose 5.20 per cent to USD 95.08 per barrel in New York.
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