Crude Oil Futures Rise on Spot Demand - PTI
Crude oil futures climbed Rs 55 to Rs 6,395 per barrel on Wednesday, driven by increased positions due to firm spot demand. Analysts cite rising bets as a factor in the price increase.
New Delhi, Jan 29 (PTI) Crude oil prices on Wednesday climbed Rs 55 to Rs 6,395 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 55 or 0.87 per cent at Rs 6,395 per barrel in 7,794 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.12 per cent lower at USD 73.68 per barrel while Brent crude was trading 0.22 per cent higher at USD 77.32 per barrel in New York.
On the Multi Commodity Exchange, crude oil for February delivery traded higher by Rs 55 or 0.87 per cent at Rs 6,395 per barrel in 7,794 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.12 per cent lower at USD 73.68 per barrel while Brent crude was trading 0.22 per cent higher at USD 77.32 per barrel in New York.
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