Crude Oil Futures Rise on Spot Demand - PTI
Crude oil prices surged on the Multi Commodity Exchange as spot demand strengthens. WTI and Brent crude also saw gains in global markets.
New Delhi, Jan 2 (PTI) Crude oil prices on Thursday climbed Rs 32 to Rs 6,196 per barrel in futures trade as participants increased their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for February delivery traded higher Rs 32 or 0.52 per cent at Rs 6,196 per barrel in 589 lots.
Analysts said the raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.47 per cent higher at USD 72.06 per barrel while Brent crude was trading 0.44 per cent higher at USD 74.97 per barrel in New York.
On the Multi Commodity Exchange, crude oil for February delivery traded higher Rs 32 or 0.52 per cent at Rs 6,196 per barrel in 589 lots.
Analysts said the raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.47 per cent higher at USD 72.06 per barrel while Brent crude was trading 0.44 per cent higher at USD 74.97 per barrel in New York.
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