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Crude Oil Futures Rise On Spot Demand

Crude oil for the August delivery traded higher by Rs 34, or 0.62 per cent, at Rs 5,481 per barrel in 7,319 lots.

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Crude oil prices rose Rs 34 to Rs 5,481 per barrel on Friday, 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 34, or 0.62 per cent, at Rs 5,481 per barrel in 7,319 lots.

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

However, Globally, West Texas Intermediate crude oil traded lower 0.11 per cent to USD 73.54 per barrel, while Brent crude traded 0.13 per cent fell at USD 75.95 per barrel in New York. 

(PTI)


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