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Crude Oil Futures Rise On Spot Demand

Crude oil for the July delivery traded higher by Rs 54, or 0.98 per cent, to Rs 5,546 per barrel in 9,520 lots.

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Crude oil prices rose Rs 54 to Rs 5,546 per barrel on Thursday, as participants widened their positions on a firm spot demand.

On the Multi Commodity Exchange, crude oil for the July delivery traded higher by Rs 54, or 0.98 per cent, to Rs 5,546 per barrel in 9,520 lots.

Analysts said raising of bets by participants kept crude oil prices higher in the futures trade.

Globally, West Texas Intermediate crude oil fell 1.42 per cent to USD 74.51 per barrel, while Brent crude traded 1.35 per cent higher at USD 75.63 per barrel in New York.

(PTI)


Tags assigned to this article:
crude oil oil prices oil demand brent crude oil