Crude Oil Prices Rise on Spot Demand | PTI
Crude oil futures gained on Thursday due to strong spot demand. Learn more about the factors influencing oil prices and global market trends.
New Delhi, Aug 22 (PTI) Crude oil prices on Thursday marginally increased Rs 8 to Rs 6,038 per barrel in futures trade as participants widened their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for September delivery traded higher Rs 8 or 0.13 per cent at Rs 6,038 per barrel in 11,751 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude oil was down by 0.19 per cent to USD 71.79 per barrel, and Brent crude traded 0.05 per cent lower at USD 76.01 per barrel in New York.
On the Multi Commodity Exchange, crude oil for September delivery traded higher Rs 8 or 0.13 per cent at Rs 6,038 per barrel in 11,751 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude oil was down by 0.19 per cent to USD 71.79 per barrel, and Brent crude traded 0.05 per cent lower at USD 76.01 per barrel in New York.
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