Crude Oil Futures Rise on Spot Demand
Crude oil futures gain Rs 47 to Rs 10,074/barrel on firm spot demand. Analysts cite increased participation. WTI & Brent crude prices fall globally.
New Delhi, May 20 (PTI) Crude oil prices on Wednesday rose by Rs 47 to Rs 10,074 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 47 or 0.47 per cent at Rs 10,074 per barrel in 3,060 lots.
Analysts said the rise of bets by participants kept crude oil prices higher in futures trade.
However, globally West Texas Intermediate crude was trading 0.31 per cent lower at USD 110.81 per barrel, while Brent crude fell 0.42 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 47 or 0.47 per cent at Rs 10,074 per barrel in 3,060 lots.
Analysts said the rise of bets by participants kept crude oil prices higher in futures trade.
However, globally West Texas Intermediate crude was trading 0.31 per cent lower at USD 110.81 per barrel, while Brent crude fell 0.42 per cent to USD 106.98 per barrel in New York.
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