Crude Oil Prices Rise on Spot Demand
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Crude oil futures gained Rs 6 to Rs 6,305 per barrel on Wednesday due to increased spot demand. Global crude prices saw mixed trends.
New Delhi, Jun 18 (PTI) Crude oil prices on Wednesday rose Rs 6 to Rs 6,305 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 6 or 0.1 per cent at Rs 6,305 per barrel in 7,944 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.04 per cent lower at USD 74.81 per barrel while Brent crude fell 0.18 per cent to USD 76.31 per barrel in New York.
On the Multi Commodity Exchange, crude oil for July delivery traded higher by Rs 6 or 0.1 per cent at Rs 6,305 per barrel in 7,944 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.04 per cent lower at USD 74.81 per barrel while Brent crude fell 0.18 per cent to USD 76.31 per barrel in New York.
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