Crude oil futures jump on firm spot demand
24 May 2021
NEW DELHI: Crude oil prices rose Rs 75 to Rs 4,734 per barrel on Monday as participants widened their positions on a firm spot demand.
On the Multi Commodity Exchange, crude oil for the June delivery traded higher by Rs 75, or 1.61 per cent, at Rs 4,734 per barrel in 5,717 lots.
Analysts said raising of bets by participants kept crude oil prices higher in the futures trade.
Globally, West Texas Intermediate crude oil gained 1.65 per cent to USD 64.63 per barrel, while Brent crude traded 1.75 per cent higher at USD 67.60 per barrel in New York.