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Crude Oil Futures Rise On Spot Demand

Crude oil for the August delivery traded higher by Rs 89, or 1.8 per cent, at Rs 5,043 per barrel in 6,390 lots.

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Crude oil prices rose by Rs 89 to Rs 5,043 per barrel on Tuesday, as participants widened their positions on a firm spot demand.

On the Multi Commodity Exchange, crude oil for the August delivery traded higher by Rs 89, or 1.8 per cent, at Rs 5,043 per barrel in 6,390 lots.

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

Globally, West Texas Intermediate crude oil was up 1.82 per cent to USD 67.69 per barrel, while Brent crude traded 1.42 per cent higher at USD 70.02 per barrel in New York. 

(PTI)


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crude oil oil prices oil demand brent crude oil