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Crude Oil Futures Rise On Spot Demand

Crude oil for the June delivery traded higher by Rs 17, or 0.33 per cent, at Rs 5,107 per barrel in 9,306 lots.

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Crude oil prices rose Rs 17 to Rs 5,107 per barrel on Thursday, as participants widened their positions on a firm spot demand.

On the Multi Commodity Exchange, crude oil for the June delivery traded higher by Rs 17, or 0.33 per cent, at Rs 5,107 per barrel in 9,306 lots.

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

However, Globally, West Texas Intermediate crude oil fell 0.13 per cent to USD 69.87 per barrel, while Brent crude traded 0.01 per cent lower at USD 72.21 per barrel in New York.

(PTI)


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