Crude oil futures increase 0.69 per cent to Rs 7,475 per barrel on firm spot demand

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Crude oil prices on Monday rose 0.69 per cent to Rs 7,475 per barrel in futures trade as participants increased their positions following firm spot demand.

On the Multi Commodity Exchange, crude oil for August delivery traded higher by Rs 51, or 0.69 per cent, at Rs 7,475 per barrel in 2,729 lots.

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

Globally, West Texas Intermediate crude was trading 0.51 per cent higher at USD 78.58 per barrel, while Brent crude rose 0.69 per cent to USD 84.13 per barrel in New York.

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