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BW Businessworld

Crude Oil Futures Rise On Spot Demand

Crude oil for the September delivery traded higher by Rs 105, or 2.26 per cent, at Rs 4,745 per barrel in 6,622 lots.

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1615260410_3UmGVg_2021_03_09T020642Z_1_LYNXMPEH28043_RTROPTP_4_GLOBAL_OIL_KEMP.JPG

Crude oil prices rose Rs 105 to Rs 4,745 per barrel on Monday as participants widened their positions on a firm spot demand.

On the Multi Commodity Exchange, crude oil for the September delivery traded higher by Rs 105, or 2.26 per cent, at Rs 4,745 per barrel in 6,622 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 2.69 per cent to USD 63.81 per barrel, while Brent crude traded 2.73 per cent lower at USD 66.96 per barrel in New York. 

(PTI)


Tags assigned to this article:
crude oil brent crude oil COVID-19 Spot Demand