Crude Oil Futures Rise on Spot Demand - PTI
By Rediff Money Desk, New Delhi Jan 16, 2025 13:29
Crude oil prices climbed on the Multi Commodity Exchange, driven by increased positions due to firm spot demand. Global benchmarks also rose.
New Delhi, Jan 16 (PTI) Crude oil prices on Thursday climbed Rs 52 to Rs 6,846 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 by Rs 52 or 0.77 per cent at Rs 6,846 per barrel in 2,927 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.25 per cent higher at USD 80.24 per barrel while Brent crude was trading 0.18 per cent higher at USD 82.18 per barrel in New York.
On the Multi Commodity Exchange, crude oil for February delivery traded higher by Rs 52 or 0.77 per cent at Rs 6,846 per barrel in 2,927 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.25 per cent higher at USD 80.24 per barrel while Brent crude was trading 0.18 per cent higher at USD 82.18 per barrel in New York.
Source: PTI
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