Crude Oil Futures Rise on Spot Demand - PTI
Jan 05, 2024 14:48
Crude oil futures prices increased on Friday due to strong spot demand, with WTI and Brent crude also rising in global markets.
New Delhi, Jan 5 (PTI) Crude oil prices on Friday increased Rs 37 to Rs 6,071 per barrel in futures trade as participants widened their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for January delivery traded higher by Rs 37, or 0.61 per cent, at Rs 6,071 per barrel in 13,824 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude oil was up by 0.80 per cent to USD 72.77 per barrel, and Brent crude traded 0.64 per cent higher at USD 78.77 per barrel in New York.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.