Crude Oil Futures Rise on Spot Demand
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Crude oil futures prices increase due to firm spot demand. June delivery trades higher on MCX. WTI and Brent crude also rise.
New Delhi, May 15 (PTI) Crude oil prices on Friday rose by Rs 117 to Rs 9,841 per barrel in futures trade, as participants increased their positions following firm spot demand.
On the Multi Commodity Exchange, crude oil for June delivery traded higher by Rs 117 or 1.2 per cent at Rs 9,841 per barrel in 2,276 lots.
Analysts said the rise of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 1.30 per cent higher at USD 102.49 per barrel, while Brent crude rose 1.19 per cent to USD 106.98 per barrel in New York.
On the Multi Commodity Exchange, crude oil for June delivery traded higher by Rs 117 or 1.2 per cent at Rs 9,841 per barrel in 2,276 lots.
Analysts said the rise of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 1.30 per cent higher at USD 102.49 per barrel, while Brent crude rose 1.19 per cent to USD 106.98 per barrel in New York.
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