Crude oil futures gain on spot demand

Crude oil prices on Thursday rose by Rs 36 to Rs 7,325 per barrel as participants widened positions on a firm spot demand.

New Delhi: Crude oil prices on Thursday rose by Rs 36 to Rs 7,325 per barrel as participants widened positions on a firm spot demand. On the Multi Commodity Exchange, crude oil for August delivery traded higher by Rs 36 or 0.49 per cent at Rs 7,325 per barrel in 5,888 lots.

Analysts said the raising of bets by participants kept crude oil prices higher in futures trade. Globally, West Texas Intermediate crude oil was down by 0.59 per cent at USD 91.39 per barrel, and Brent crude traded 0.56 per cent lower at USD 96.85 per barrel in New York. (PTI)