Crude Oil Prices Rise on Spot Demand
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Crude oil futures gained Rs 24 to Rs 5,639 per barrel due to increased spot demand. Global crude prices also saw an increase.
New Delhi, Jul 2 (PTI) Crude oil prices on Wednesday rose Rs 24 to Rs 5,639 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 Rs 24 or 0.43 per cent at Rs 5,639 per barrel in 14,050 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.46 per cent higher at USD 65.75 per barrel while Brent crude rose 0.46 per cent to USD 67.42 per barrel in New York.
On the Multi Commodity Exchange, crude oil for July delivery traded higher Rs 24 or 0.43 per cent at Rs 5,639 per barrel in 14,050 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.46 per cent higher at USD 65.75 per barrel while Brent crude rose 0.46 per cent to USD 67.42 per barrel in New York.
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