Crude oil futures prices climbed on Tuesday due to increased spot demand, with MCX March contracts trading higher at Rs 6,528 per barrel. West Texas Intermediate and Brent crude also saw gains in global markets.
New Delhi, Mar 5 (PTI) Crude oil prices on Tuesday climbed Rs 1 to Rs 6,528 per barrel in futures trade as participants widened their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for March delivery traded higher Rs 1 or 0.02 per cent at Rs 6,528 per barrel in 4,449 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude oil was up 0.03 per cent to USD 78.76 per barrel, and Brent crude traded 0.14 per cent higher at USD 82.92 per barrel in New York.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
© 2024 Rediff.com India Limited. All rights reserved. Disclaimer - Terms of Service - Privacy Policy - Feedback