Crude oil futures move higher on firm spot demand

NEW DELHI: Crude oil prices rose Rs 6 to Rs 5,362 per barrel on Tuesday, as participants widened their positions on a firm spot demand.

On the Multi Commodity Exchange, crude oil for the August delivery traded higher by Rs 6, or 0.11 per cent, to Rs 5,362 per barrel in 5,855 lots.

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

Globally, West Texas Intermediate crude oil traded lower by 0.10 per cent to USD 71.84 per barrel, while Brent crude traded 0.07 per cent up at USD 74.55 per barrel in New York.

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