Crude Oil Prices Rise on Spot Demand
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Crude oil futures gained Rs 9 to Rs 5,653 per barrel due to increased spot demand. Global markets also saw price increases for WTI and Brent crude.
New Delhi, Jul 16 (PTI) Crude oil prices on Wednesday rose Rs 9 to Rs 5,653 per barrel in futures trade as participants increased their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for August delivery traded higher Rs 9 or 0.16 per cent at Rs 5,653 per barrel in 9,125 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.50 per cent higher at USD 66.85 per barrel while Brent crude rose 0.28 per cent to USD 68.90 per barrel in New York.
On the Multi Commodity Exchange, crude oil for August delivery traded higher Rs 9 or 0.16 per cent at Rs 5,653 per barrel in 9,125 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.50 per cent higher at USD 66.85 per barrel while Brent crude rose 0.28 per cent to USD 68.90 per barrel in New York.
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