Crude oil futures gain on firm spot demand. September delivery up 0.47% at Rs 5,502/barrel on MCX. WTI & Brent crude also rise.
New Delhi, Aug 21 (PTI) Crude oil prices on Thursday rose Rs 26 to Rs 5,502 per barrel in futures trade as participants increased their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for September delivery traded higher Rs 26 or 0.47 per cent at Rs 5,502 per barrel in 14,675 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.34 per cent higher at USD 63.05 per barrel while Brent crude rose 0.49 per cent to USD 67.17 per barrel in New York.