Crude oil futures rise on spot demand
31 May 2021
NEW DELHI: Crude oil prices rose by Rs 29 to Rs 4,884 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 29, or 0.6 per cent, at Rs 4,884 per barrel in 8,662 lots.
Analysts said raising of bets by participants kept crude oil prices higher in the futures trade.
Globally, West Texas Intermediate crude oil gained 1.24 per cent to USD 67.14 per barrel, while Brent crude traded 1.21 per cent higher at USD 69.55 per barrel in New York.