Crude oil futures move higher amid firm spot demand

News

NEW DELHI: Crude oil prices rose Rs 17 to Rs 5,208 per barrel on Tuesday, 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 17, or 0.33 per cent, at Rs 5,208 per barrel in 8,635 lots.

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

Globally, West Texas Intermediate crude oil gained 0.27 per cent to USD 71.07 per barrel, while Brent crude traded 0.37 per cent higher at USD 73.13 per barrel in New York.

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