Crude Oil Prices Rise on Strong Demand and Speculative Bets

Crude oil prices rose in futures trade on Friday, driven by increased demand and speculative bets. On the Multi Commodity Exchange, crude oil for September delivery traded higher at Rs 7,808 per barrel, marking a 0.57% increase from the previous day's close.

The West Texas Intermediate crude was trading 1.29% higher at $82.30 per barrel globally, while Brent crude rose 0.90% to $87.85 per barrel in New York. Analysts said that the rise in bets by participants kept crude oil prices higher in futures trade.