Crude Oil Futures Rise on Strong Spot Demand

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Jul 17, 2026 13:06

Crude oil futures surged on Friday due to firm spot demand. Prices on MCX rose to Rs 7,615/barrel, while WTI and Brent crude also saw gains.

Crude Oil Futures Rise on Strong Spot Demand

Photograph: Dado Ruvic/Reuters

New Delhi, Jul 17 (PTI) Crude oil prices on Friday rose Re 1 per cent to Rs 7,615 per barrel in futures trade as participants increased their positions following firm spot demand.

On the Multi Commodity Exchange, crude oil for August delivery traded higher by Re 1, or 0.01 per cent, at Rs 7,615 per barrel in 3,634 lots.

Analysts said the rise of bets by participants kept crude oil prices higher in futures trade.

Globally, West Texas Intermediate crude was trading 0.44 per cent higher at USD 79.30 per barrel, while Brent crude rose 0.29 per cent to USD 84.52 per barrel in New York.

Source: PTI By Rediff Money Desk, New Delhi

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