Crude oil futures gain on spot demand

Crude oil prices on Friday rose by Rs 46 to Rs 8,510 per barrel as participants widened positions on a firm spot demand.

On the Multi Commodity Exchange, crude oil for June delivery traded higher by Rs 46 or 0.54 percent at Rs 8,510 per barrel in 5,996 lots.

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

Globally, West Texas Intermediate crude oil was down by 0.50 percent at USD 111.65 per barrel, while Brent crude traded 0.59 percent lower at USD 111.38 per barrel in New York.

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