Crude Oil Futures Rise on Spot Demand - PTI
Crude oil prices climbed Rs 40 to Rs 5,937 per barrel in futures trade on Wednesday, driven by increased spot demand. Analysts attribute the rise to heightened market activity.
New Delhi, Oct 16 (PTI) Crude oil prices on Wednesday climbed Rs 40 to Rs 5,937 per barrel in futures trade as participants widened their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for March delivery traded higher Rs 40 or 0.68 per cent at Rs 5,937 per barrel in 9,085 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.35 per cent higher at USD 70.83 per barrel, while Brent crude was trading 0.27 per cent down at USD 74.45 per barrel in New York.
On the Multi Commodity Exchange, crude oil for March delivery traded higher Rs 40 or 0.68 per cent at Rs 5,937 per barrel in 9,085 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.35 per cent higher at USD 70.83 per barrel, while Brent crude was trading 0.27 per cent down at USD 74.45 per barrel in New York.
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