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Crude Oil Futures Rise On Spot Demand

Crude oil for May delivery traded higher by Rs 40, or 0.86 per cent, at Rs 4,716 per barrel in 7,102 lots.

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Crude oil prices rose by Rs 40 to Rs 4,716 per barrel on Wednesday as participants widened their positions on firm spot demand.

On the Multi Commodity Exchange, crude oil for May delivery traded higher by Rs 40, or 0.86 per cent, at Rs 4,716 per barrel in 7,102 lots.

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

Globally, West Texas Intermediate crude oil gained 0.40 per cent to USD 63.19 per barrel, while Brent crude traded 0.48 per cent higher at USD 66.74 per barrel in New York. 

(PTI)


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