Crude Oil Futures Rise on Spot Demand - PTI
Crude oil prices climbed on the Multi Commodity Exchange, driven by increased positions due to firm spot demand. Global benchmarks like WTI and Brent also saw gains.
New Delhi, Feb 10 (PTI) Crude oil prices on Monday climbed Rs 27 to Rs 6,264 per barrel in futures trade as participants increased their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for March delivery traded higher by Rs 27 or 0.43 per cent at Rs 6,264 per barrel in 7,550 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.63 per cent higher at USD 71.45 per barrel while Brent crude was trading 0.62 per cent higher at USD 75.12 per barrel in New York.
On the Multi Commodity Exchange, crude oil for March delivery traded higher by Rs 27 or 0.43 per cent at Rs 6,264 per barrel in 7,550 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.63 per cent higher at USD 71.45 per barrel while Brent crude was trading 0.62 per cent higher at USD 75.12 per barrel in New York.
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