Crude Oil Futures Rise on Spot Demand - PTI
Crude oil futures prices rose on Friday due to strong spot demand, with participants increasing their positions. Global oil prices also saw gains in New York.
New Delhi, Mar 21 (PTI) Crude oil prices on Friday rose Rs 8 to Rs 5,905 per barrel in futures trade as participants increased their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for April delivery traded higher by Rs 8 or 0.14 per cent at Rs 5,905 per barrel in 5,205 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 68.31 per barrel while Brent crude was trading 0.32 per cent higher at USD 72.23 per barrel in New York.
On the Multi Commodity Exchange, crude oil for April delivery traded higher by Rs 8 or 0.14 per cent at Rs 5,905 per barrel in 5,205 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 68.31 per barrel while Brent crude was trading 0.32 per cent higher at USD 72.23 per barrel in New York.
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