Crude oil futures rise 1% on firm spot demand
06 May 2021
NEW DELHI: Crude oil prices rose by Rs 42 to Rs 4,868 per barrel on Thursday as participants widened their positions on a firm spot demand.
On the Multi Commodity Exchange, crude oil for the May delivery traded higher by Rs 42, or 0.87 per cent, at Rs 4,868 per barrel in 7,393 lots.
Analysts said raising of bets by participants kept crude oil prices higher in the futures trade.
Globally, the West Texas Intermediate crude oil gained 0.43 per cent to USD 65.91 per barrel, while Brent crude traded 0.51 per cent lower at USD 69.31 per barrel in New York.