Oil Prices See Slight Increase Amid Firm Demand

Crude oil prices have risen in futures trade by 1.4% to Rs 7,190 per barrel. This increase is attributed to participants increasing their positions following firm spot demand.

The Crude oil for August delivery has traded higher by Rs 81 in 8,168 lots. Analysts suggest that the rise of bets by participants kept crude oil prices higher in futures trade.

Globally, West Texas Intermediate crude was trading 0.51% higher at $79.60 per barrel, while Brent crude increased 0.45% to $79.90 per barrel in New York.