Crude Oil Futures Rise on Strong Spot Demand

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Aug 06, 2026 13:23

Crude oil futures prices surged 1.4% to Rs 7,190 per barrel on MCX due to firm spot demand. WTI and Brent crude also saw gains globally.

Crude Oil Futures Rise on Strong Spot Demand

New Delhi, Aug 6 (PTI) Crude oil prices on Thursday rose 1.4 per cent to Rs 7,190 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 Rs 81, or 1.4 per cent, at Rs 7,190 per barrel in 8,168 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 79.60 per barrel, while Brent crude increased 0.45 per cent to USD 79.90 per barrel in New York.

Source: PTI By Rediff Money Desk, New Delhi

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