Crude oil futures move higher as participants raise bets

Crude oil futures move higher as participants raise bets

NEW DELHI: Crude oil prices rose Rs 23 to Rs 5,300 per barrel on Thursday, 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 23, or 0.44 per cent, at Rs 5,300 per barrel in 5,183 lots.

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

Globally, West Texas Intermediate crude oil fell 0.46 per cent to USD 71.82 per barrel, while Brent crude traded 0.43 per cent lower at USD 74.07 per barrel in New York.

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