Crude oil futures gained Rs 9 to Rs 6,042 per barrel on Monday due to strong spot demand. Analysts attribute the rise to increased bets by participants.
New Delhi, Jan 15 (PTI) Crude oil prices on Monday grew Rs 9 to Rs 6,042 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 9, or 0.15 per cent, at Rs 6,042 per barrel in 9,887 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 0.18 per cent to USD 72.81 per barrel, and Brent crude traded 0.27 per cent higher at USD 78.50 per barrel in New York.
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