Crude oil futures gain on spot demand

New Delhi: Crude oil prices on Wednesday rose Rs 9 to Rs 6,167 per barrel in futures trade as participants increased their positions following a firm spot demand.

On the Multi Commodity Exchange, crude oil for July delivery traded higher by Rs 9 or 0.15 percent at Rs 6,167 per barrel in 8,638 lots.

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

Globally, West Texas Intermediate crude oil was up by 0.07 percent at USD 74.88 per barrel, and Brent crude traded 0.05 per cent higher at USD 79.44 per barrel in New York.

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