Crude oil futures rise on spot demand
On the Multi Commodity Exchange, crude oil for the September delivery traded higher by Rs 22, or 0.44 per cent, at Rs 5,056 per barrel in 4,363 lots.
By PTI |
Agencies
NEW DELHI: Crude oil prices rose Rs 22 to Rs 5,056 per barrel on Tuesday, as participants widened their positions on a firm spot demand.
On the Multi Commodity Exchange, crude oil for the September delivery traded higher by Rs 22, or 0.44 per cent, at Rs 5,056 per barrel in 4,363 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 0.49 per cent to USD 68.95 per barrel, while Brent crude oil traded 0.25 per cent higher at USD 72.40 per barrel in New York.
On the Multi Commodity Exchange, crude oil for the September delivery traded higher by Rs 22, or 0.44 per cent, at Rs 5,056 per barrel in 4,363 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 0.49 per cent to USD 68.95 per barrel, while Brent crude oil traded 0.25 per cent higher at USD 72.40 per barrel in New York.
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