Crude Oil Futures Rise on Spot Demand
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Crude oil futures gain in futures trade due to increased spot demand. WTI & Brent crude prices also rise in New York.
New Delhi, May 14 (PTI) Crude oil prices on Thursday rose by Rs 14 to Rs 9,725 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 14 or 0.14 per cent at Rs 9,725 per barrel in 3,577 lots.
Analysts said the rise of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.51 per cent higher at USD 101.54 per barrel, while Brent crude rose 0.53 per cent to USD 106.19 per barrel in New York.
On the Multi Commodity Exchange, crude oil for June delivery traded higher by Rs 14 or 0.14 per cent at Rs 9,725 per barrel in 3,577 lots.
Analysts said the rise of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.51 per cent higher at USD 101.54 per barrel, while Brent crude rose 0.53 per cent to USD 106.19 per barrel in New York.
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