Crude oil prices rose by Rs 63 to Rs 3,959 per barrel in futures market on Monday as speculators created fresh positions, taking positive cues from physical spot market.
On the Multi Commodity Exchange, crude for delivery in August was trading higher by Rs 63, or 1.62 per cent, at Rs 3,959 per barrel in a business turnover of 23,535 lots.
Analysts said speculative positions created by traders led to the rise in oil prices.
Globally, however, West Texas Intermediate was trading lower 1.20 per cent to USD 55.53, while global benchmark Brent was up 1.42 per cent to USD 59.47 per barrel. Read More
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