Crude Oil Prices Rise on Spot Demand
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Crude oil futures gained Rs 45 to Rs 5,700 per barrel on increased spot demand. Global markets also saw WTI and Brent crude rise.
New Delhi, Jul 24 (PTI) Crude oil prices on Thursday rose Rs 45 to Rs 5,700 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 45 or 0.8 per cent at Rs 5,700 per barrel in 11,564 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.70 per cent higher at USD 65.71 per barrel while Brent crude rose 0.43 per cent to USD 68.94 per barrel in New York.
On the Multi Commodity Exchange, crude oil for August delivery traded higher Rs 45 or 0.8 per cent at Rs 5,700 per barrel in 11,564 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.70 per cent higher at USD 65.71 per barrel while Brent crude rose 0.43 per cent to USD 68.94 per barrel in New York.
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