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Crude Oil Futures Rise On Spot Demand

Crude oil for the August delivery traded higher by Rs 35, or 0.65 per cent, to Rs 5,438 per barrel in 6,511 lots.

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1615260410_3UmGVg_2021_03_09T020642Z_1_LYNXMPEH28043_RTROPTP_4_GLOBAL_OIL_KEMP.JPG

Crude oil prices rose Rs 35 to Rs 5,438 per barrel on Thursday, 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 35, or 0.65 per cent, to Rs 5,438 per barrel in 6,511 lots.

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

Globally, West Texas Intermediate crude oil gained 1.08 per cent to USD 73.17 per barrel, while Brent crude traded 0.91 per cent higher at USD 75.42 per barrel in New York. 

(PTI)


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