Crude oil prices climbed Rs 2 to Rs 6,165 per barrel in futures trade on Tuesday, driven by strong spot demand. Analysts attribute the rise to increased bets by market participants.
New Delhi, Dec 26 (PTI) Crude oil prices on Tuesday increased Rs 2 to Rs 6,165 per barrel in futures trade as participants widened their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for January delivery traded higher by Rs 2 or 0.03 per cent at Rs 6,165 per barrel in 11,766 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude oil was up by 0.37 per cent to USD 73.83 per barrel, and Brent crude traded 0.52 per cent higher at USD 79.48 per barrel in New York.
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