Crude Oil Futures Rise on Spot Demand
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Crude oil futures jump on strong spot demand. June delivery up 5.03% at Rs 9,173/barrel. WTI & Brent crude also surge.
New Delhi, May 11 (PTI) Crude oil prices on Monday rose by Rs 439 to Rs 9,173 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 439 or 5.03 per cent at Rs 9,173 per barrel in 2,179 lots.
Analysts said the rise of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 4.52 per cent higher at USD 99.73 per barrel, while Brent crude rose 3.96 per cent to USD 105.30 per barrel in New York.
On the Multi Commodity Exchange, crude oil for June delivery traded higher by Rs 439 or 5.03 per cent at Rs 9,173 per barrel in 2,179 lots.
Analysts said the rise of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 4.52 per cent higher at USD 99.73 per barrel, while Brent crude rose 3.96 per cent to USD 105.30 per barrel in New York.
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