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Crude oil futures rise on spot demand
Globally, West Texas Intermediate crude oil was trading up by 5.50 per cent at USD 31.05 per barrel and Brent crude rose 4.09 per cent to USD 33.83 per barrel in New York.
Published on: May 18, 2020, 15:07:44 IST
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Crude oil prices on Monday rose ₹108 to ₹2,354 per barrel as participants widened their positions on firm spot demand.
On the Multi Commodity Exchange, crude oil for delivery in May traded higher by ₹108, or 4.81 per cent, to ₹2,354 per barrel in 2,963 lots.
Crude oil for June delivery was up by ₹103, or 4.54 per cent, at ₹2,370 per barrel with an open interest of 3,063 lots.
Analysts said raising of bets by participants kept crude prices higher in futures trade here.
Globally, West Texas Intermediate crude oil was trading up by 5.50 per cent at USD 31.05 per barrel and Brent crude rose 4.09 per cent to USD 33.83 per barrel in New York.
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