Crude oil futures rise on spot demand
On the Multi Commodity Exchange, crude oil for the September delivery traded higher by Rs 11, or 0.22 per cent, at Rs 5,037 per barrel in 4380 lots.
By PTI |
BCCL - Non Copyright
NEW DELHI: Crude oil prices rose by Rs 11 to Rs 5,037 per barrel on Wednesday as participants widened their positions on firm spot demand.
On the Multi Commodity Exchange, crude oil for the September delivery traded higher by Rs 11, or 0.22 per cent, at Rs 5,037 per barrel in 4380 lots.
Analysts said raising of bets by participants kept crude oil prices higher in the futures trade.
Globally, West Texas Intermediate crude oil was up 0.45 per cent to USD 68.81 per barrel, while Brent crude traded 0.47 per cent higher at USD 71.97 per barrel in New York.
On the Multi Commodity Exchange, crude oil for the September delivery traded higher by Rs 11, or 0.22 per cent, at Rs 5,037 per barrel in 4380 lots.
Analysts said raising of bets by participants kept crude oil prices higher in the futures trade.
Globally, West Texas Intermediate crude oil was up 0.45 per cent to USD 68.81 per barrel, while Brent crude traded 0.47 per cent higher at USD 71.97 per barrel in New York.
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