Crude oil futures prices surged on the Multi Commodity Exchange due to strong spot demand, with October contracts increasing by Rs 41 per barrel. The rise follows gains in global benchmarks like WTI and Brent crude.
New Delhi, Sep 6 (PTI) Crude oil prices on Friday increased Rs 41 to Rs 5,825 per barrel in futures trade as participants widened their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for October delivery traded higher Rs 41 or 0.71 per cent at Rs 5,825 per barrel in 8,376 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude oil was up by 0.58 per cent to USD 69.55 per barrel, and Brent crude traded 0.56 per cent higher at USD 73.10 per barrel in New York.
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