Crude Oil Prices Rise on Spot Demand
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Crude oil futures gained Rs 54 to Rs 6,225 per barrel due to increased spot demand. Global crude prices also saw an uptick.
New Delhi, Jun 17 (PTI) Crude oil prices on Tuesday rose Rs 54 to Rs 6,225 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 54 or 0.88 per cent at Rs 6,225 per barrel in 8,864 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.84 per cent higher at USD 72.37 per barrel while Brent crude rose 0.86 per cent to USD 73.86 per barrel in New York.
On the Multi Commodity Exchange, crude oil for July delivery traded higher by Rs 54 or 0.88 per cent at Rs 6,225 per barrel in 8,864 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.84 per cent higher at USD 72.37 per barrel while Brent crude rose 0.86 per cent to USD 73.86 per barrel in New York.
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