Crude oil futures rise on spot demand; Prices rose from Rs 63 to Rs 5,561 per barrel

Crude oil prices rose Rs 63 to Rs 5,561 per barrel on Tuesday as participants widened their positions on a firm spot demand.

Crude Oil in July

On the Multi Commodity Exchange, crude oil for the July delivery traded higher by Rs 63, or 1.15%, at Rs 5,561 per barrel in 5,330 lots.

Analysts said raising of bets by participants kept crude oil prices higher in the futures trade. Globally, West Texas Intermediate crude oil gained 0.72% to USD 74.63 per barrel, while Brent crude traded 0.73% higher at USD 75.71 per barrel in New York.