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Crude oil futures rise on spot demand, global cues

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

PTI|
Last Updated: Jun 03, 2020, 02.25 PM IST
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On the Multi Commodity Exchange, crude oil for delivery in June traded higher by Rs 98, or 3.57 per cent, to Rs 2,844 per barrel in 5,718 lots.

Commodity Summary
MCX

CRUDEOIL
New Delhi: Crude oil prices on Wednesday rose Rs 98 to Rs 2,844 per barrel as participants widened their positions on firm global cues.

On the Multi Commodity Exchange, crude oil for delivery in June traded higher by Rs 98, or 3.57 per cent, to Rs 2,844 per barrel in 5,718 lots.

Crude oil for the July delivery was up by Rs 95, or 3.41 per cent, at Rs 2,881 per barrel with an open interest of 231 lots.

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

Globally, West Texas Intermediate crude oil was trading higher by 2.15 per cent at $37.60 per barrel and Brent crude was up by 1.54 per cent to $40.18 per barrel in New York.
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