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Crude Oil Futures Rise On Spot Demand

Crude oil for the October delivery traded higher by Rs 47, or 0.9 per cent, at Rs 5,257 per barrel in 3,799 lots.

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Crude oil prices rose Rs 47 to Rs 5,257 per barrel on Tuesday, as participants widened their positions on a firm spot demand.

On the Multi Commodity Exchange, crude oil for the October delivery traded higher by Rs 47, or 0.9 per cent, at Rs 5,257 per barrel in 3,799 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 1.48 per cent to USD 71.33 per barrel, while Brent crude traded 1.64 per cent higher at USD 75.13 per barrel in New York. 

(PTI)


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crude oil oil prices oil demand