Crude oil futures gain in futures trade due to firm spot demand. September delivery rises on MCX. WTI and Brent crude also up.
New Delhi, Aug 20 (PTI) Crude oil prices on Wednesday rose Rs 23 to Rs 5,423 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 23 or 0.43 per cent at Rs 5,423 per barrel in 15,375 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.37 per cent higher at USD 62.58 per barrel while Brent crude rose 0.41 per cent to USD 66.06 per barrel in New York.