Crude Oil Prices Rise on Spot Demand
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Crude oil futures gained Rs 46 to Rs 6,207 per barrel due to increased spot demand. Global crude prices also saw an increase.
New Delhi, Jun 16 (PTI) Crude oil prices on Monday rose Rs 46 to Rs 6,207 per barrel in futures trade as participants increased their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for July delivery traded higher by Rs 46 or 0.75 per cent at Rs 6,207 per barrel in 5,940 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.99 per cent higher at USD 73.70 per barrel while Brent crude rose 0.77 per cent to USD 73.70 per barrel in New York.
On the Multi Commodity Exchange, crude oil for July delivery traded higher by Rs 46 or 0.75 per cent at Rs 6,207 per barrel in 5,940 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.99 per cent higher at USD 73.70 per barrel while Brent crude rose 0.77 per cent to USD 73.70 per barrel in New York.
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