Crude oil futures rise on spot demand

PTI | New Delhi | Updated: 05-05-2021 14:26 IST | Created: 05-05-2021 14:26 IST
Crude oil futures rise on spot demand

Crude oil prices rose by Rs 83 to Rs 4,925 per barrel on Wednesday as participants widened their positions on firm spot demand.

On the Multi Commodity Exchange, crude oil for May delivery traded higher by Rs 83, or 1.71 per cent, at Rs 4,925 per barrel in 8,723 lots.

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

Globally, West Texas Intermediate crude oil gained 1 per cent to USD 66.35 per barrel, while Brent crude traded 1.02 per cent lower at USD 69.58 per barrel in New York.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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