Crude Oil Prices Rise on Spot Demand
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Crude oil futures gained Rs 76, reaching Rs 5,868 per barrel, driven by increased spot demand. Global markets also saw price increases.
New Delhi, Jul 18 (PTI) Crude oil prices on Friday rose Rs 76 to Rs 5,868 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 76 or 1.31 per cent at Rs 5,868 per barrel in 11,533 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude oil was trading 0.80 per cent higher at USD 68.08 per barrel, while Brent Crude rose 0.65 per cent to USD 69.97 per barrel in New York.
On the Multi Commodity Exchange, crude oil for August delivery traded higher Rs 76 or 1.31 per cent at Rs 5,868 per barrel in 11,533 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude oil was trading 0.80 per cent higher at USD 68.08 per barrel, while Brent Crude rose 0.65 per cent to USD 69.97 per barrel in New York.
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