Crude oil futures rise on spot demand

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

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On the Multi Commodity Exchange, crude oil for delivery in May traded higher by Rs 30, or 1.63 per cent, to Rs 1,867 per barrel in 7,857 lots.
New Delhi: Crude oil prices on Monday rose Rs 30 to Rs 1,867 per barrel as participants widened their positions on firm spot demand.

On the Multi Commodity Exchange, crude oil for delivery in May traded higher by Rs 30, or 1.63 per cent, to Rs 1,867 per barrel in 7,857 lots.

Crude oil for June delivery was up by Rs 27, or 1.37 per cent, at Rs 1,992 per barrel with an open interest of 971 lots.


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

Globally, West Texas Intermediate crude oil was trading lower by 0.81 per cent at $24.54 per barrel and Brent crude fell 1.03 per cent to $30.65 per barrel.
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