Crude Oil Prices Rise on Spot Demand
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Crude oil futures gained Rs 22 to Rs 5,670 per barrel on Monday due to increased spot demand. Global crude prices also saw an increase.
New Delhi, Jul 28 (PTI) Crude oil prices on Monday rose Rs 22 to Rs 5,670 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 22 or 0.39 per cent at Rs 5,670 per barrel in 11,085 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.54 per cent higher at USD 65.51 per barrel while Brent crude rose 0.57 per cent to USD 68.83 per barrel in New York.
On the Multi Commodity Exchange, crude oil for August delivery traded higher Rs 22 or 0.39 per cent at Rs 5,670 per barrel in 11,085 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.54 per cent higher at USD 65.51 per barrel while Brent crude rose 0.57 per cent to USD 68.83 per barrel in New York.
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