Crude oil prices climbed in futures trading on Wednesday due to strong spot demand. Analysts attributed the rise to increased bets by participants.
New Delhi, Mar 6 (PTI) Crude oil prices on Wednesday climbed Rs 31 to Rs 6,512 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 31 or 0.48 per cent at Rs 6,512 per barrel in 4,532 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude oil was up 0.51 per cent to USD 78.55 per barrel, and Brent crude traded 0.37 per cent higher at USD 82.34 per barrel in New York.
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