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Commodities

Crude Oil Prices Rise on Firm Demand

Guavy AI Editorial Team
Instruments
Oil
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Crude oil prices on Wednesday rose due to firm demand in futures trade.

The price of crude oil for September delivery traded higher by ₹48, or 0.61 per cent, at ₹7,892 per barrel in 1,132 lots on the Multi Commodity Exchange.

Analysts said the rise in bets kept crude oil prices higher in futures trade, with global benchmarks also inching up.

Globally, West Texas Intermediate (WTI) and Brent crude gained over 0.5 per cent, with WTI trading 0.62 per cent higher at $83.72 per barrel and Brent rising 0.56 per cent to $89.41 per barrel in New York.

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