Crude oil futures rise on spot demand PSU Watch
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Crude oil futures rise on spot demand

On the Multi Commodity Exchange, crude oil for August delivery traded higher by Rs 198, or 2.5 percent, at Rs 8,108 per barrel in 4,816 lots

PTI

New Delhi: Crude oil prices on Monday rose 2.5 percent to Rs 8,108 per barrel in futures trade as participants increased their positions following firm spot demand.

On the Multi Commodity Exchange, crude oil for August delivery traded higher by Rs 198, or 2.5 percent, at Rs 8,108 per barrel in 4,816 lots.

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

Globally, West Texas Intermediate crude was trading 2.41 percent higher at USD 84.48 per barrel, while Brent crude increased 2.69 percent to USD 90.47 per barrel in New York.

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