Crude oil futures rise on spot demand
On the Multi Commodity Exchange, crude oil for the June delivery traded higher by Rs 31, or 0.63 per cent, at Rs 4,974 per barrel in 9,169 lots.
By PTI |
BCCL
NEW DELHI: Crude oil prices rose Rs 31 to Rs 4,794 per barrel on Wednesday as participants widened their positions on a firm spot demand.
On the Multi Commodity Exchange, crude oil for the June delivery traded higher by Rs 31, or 0.63 per cent, at Rs 4,974 per barrel in 9,169 lots.
Analysts said raising of bets by participants kept crude oil prices higher in the futures trade.
Globally, West Texas Intermediate crude oil gained 0.24 per cent to USD 67.88 per barrel, while Brent crude traded 0.34 per cent higher at USD 70.49 per barrel in New York.
On the Multi Commodity Exchange, crude oil for the June delivery traded higher by Rs 31, or 0.63 per cent, at Rs 4,974 per barrel in 9,169 lots.
Analysts said raising of bets by participants kept crude oil prices higher in the futures trade.
Globally, West Texas Intermediate crude oil gained 0.24 per cent to USD 67.88 per barrel, while Brent crude traded 0.34 per cent higher at USD 70.49 per barrel in New York.
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