Crude Oil Futures Rise on Spot Demand - PTI
Jan 18, 2024 16:50
Crude oil futures prices rose on Thursday due to strong spot demand, with the February contract trading higher at Rs 6,091 per barrel on the Multi Commodity Exchange. Global benchmarks also gained.
New Delhi, Jan 18 (PTI) Crude oil prices on Thursday increased Rs 86 to Rs 6,091 per barrel in futures trade as participants widened their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for February delivery traded higher by Rs 86, or 0.48 per cent, at Rs 6,091 per barrel in 11,785 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 0.65 per cent to USD 73.03 per barrel, and Brent crude traded 0.44 per cent higher at USD 78.22 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.