Crude oil prices rose by Rs 44, or 0.57%, to Rs 7,808 per barrel in futures trade on Friday, supported by firm demand in the spot market and increased buying activity by market participants.
On the Multi Commodity Exchange (MCX), crude oil contracts for September delivery gained Rs 44 to trade at Rs 7,808 per barrel, with a business turnover of 3,491 lots.
Analysts attributed the rise in crude oil futures to increased position-building by participants amid steady spot demand.