Crude Oil Futures Rise on Spot Demand - PTI
Feb 09, 2024 14:06
Crude oil futures prices climbed Rs 20 to Rs 6,327 per barrel in futures trade on Friday, driven by strong spot demand. Analysts attribute the rise to increased bets by participants.
New Delhi, Feb 9 (PTI) Crude oil prices on Friday climbed Rs 20 to Rs 6,327 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 20 or 0.32 per cent at Rs 6,327 per barrel in 9,760 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude oil remained flat at USD 76.22 per barrel, and Brent crude traded 0.12 per cent lower at USD 81.53 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.