New Delhi: Participants in futures trading increased their positions in response to strong demand, causing crude oil prices to rise by Rs 13 to Rs 6,471 per barrel on Wednesday.
Crude oil for August delivery on the Multi Commodity Exchange saw an increase of Rs 13 or 0.2 per cent, trading at Rs 6,471 per barrel in 8,114 lots.
Analysts reported that an increase in wagers by traders caused crude oil prices to stay elevated in futures trading. Internationally, West Texas Intermediate crude oil increased by 0.34 per cent to reach USD 77.22 per barrel, while Brent crude rose by 0.36 per cent to USD 81.30 per barrel in New York.
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