Crude Oil Futures Rise on Spot Demand
Crude oil futures gained on Wednesday due to increased demand. WTI and Brent crude also rose in New York trading. Learn more about the latest oil price trends.
New Delhi, Jan 8 (PTI) Crude oil prices on Wednesday climbed Rs 36 to Rs 6,400 per barrel in futures trade as participants increased their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for February delivery traded higher Rs 36 or 0.57 per cent at Rs 6,400 per barrel in 2,345 lots.
Analysts said the raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.45 per cent higher at USD 74.70 per barrel while Brent crude was trading 0.47 per cent higher at USD 77.41 per barrel in New York.
On the Multi Commodity Exchange, crude oil for February delivery traded higher Rs 36 or 0.57 per cent at Rs 6,400 per barrel in 2,345 lots.
Analysts said the raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.45 per cent higher at USD 74.70 per barrel while Brent crude was trading 0.47 per cent higher at USD 77.41 per barrel in New York.
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