Crude Oil Prices Rise on Spot Demand
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Crude oil futures gained Rs 21 to Rs 5,667 per barrel on Wednesday due to increased spot demand. Global crude prices also saw an increase.
New Delhi, Jul 23 (PTI) Crude oil prices on Wednesday rose Rs 21 to Rs 5,667 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 21 or 0.37 per cent at Rs 5,667 per barrel in 11,595 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.26 per cent higher at USD 65.48 per barrel while Brent crude rose 0.25 per cent to USD 68.76 per barrel in New York.
On the Multi Commodity Exchange, crude oil for August delivery traded higher Rs 21 or 0.37 per cent at Rs 5,667 per barrel in 11,595 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.26 per cent higher at USD 65.48 per barrel while Brent crude rose 0.25 per cent to USD 68.76 per barrel in New York.
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