Crude oil futures jump on firm spot demand
Analysts said raising of bets by participants kept crude oil prices higher in the futures trade.
By PTI |
Agencies
NEW DELHI: Crude oil prices rose Rs 31 to Rs 5,320 per barrel on Monday as participants widened their positions on a firm spot demand.
On the Multi Commodity Exchange, crude oil for the July delivery traded higher by Rs 31, or 0.59 per cent, at Rs 5,320 per barrel in 7,932 lots.
Analysts said raising of bets by participants kept crude oil prices higher in the futures trade.
Globally, West Texas Intermediate crude oil gained 0.40 per cent to USD 71.93 per barrel, while Brent crude traded 0.33 per cent higher at USD 73.75 per barrel in New York.
On the Multi Commodity Exchange, crude oil for the July delivery traded higher by Rs 31, or 0.59 per cent, at Rs 5,320 per barrel in 7,932 lots.
Analysts said raising of bets by participants kept crude oil prices higher in the futures trade.
Globally, West Texas Intermediate crude oil gained 0.40 per cent to USD 71.93 per barrel, while Brent crude traded 0.33 per cent higher at USD 73.75 per barrel in New York.
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