New Delhi: Crude oil prices rose by Rs 16 to Rs 5,579 per barrel in futures trade on Friday as traders increased their bets following strong spot demand.
At the Multi Commodity Exchange, the price of crude oil contract for September delivery rose by Rs 16, or 0.29 per cent, to Rs 5,579 per barrel in a business turnover of 13,135 lots.
Analysts said crude oil prices rose in futures trade as participants increased their bets.
Globally, West Texas Intermediate crude was trading 0.29 percent higher at $63.65 per barrel in New York, while Brent crude rose 0.16 percent to $67.78 per barrel.
