Crude Oil Futures Rise on Spot Demand
Crude oil futures prices climbed on Tuesday due to increased demand, with MCX crude oil for February delivery trading higher by Rs 9. West Texas Intermediate and Brent crude also saw movement in global markets.
New Delhi, Jan 21 (PTI) Crude oil prices on Tuesday climbed Rs 9 to Rs 6,622 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 by Rs 9 or 0.14 per cent at Rs 6,622 per barrel in 9,977 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.82 per cent lower at USD 77.24 per barrel while Brent crude was trading 0.42 per cent higher at USD 79.81 per barrel in New York.
On the Multi Commodity Exchange, crude oil for February delivery traded higher by Rs 9 or 0.14 per cent at Rs 6,622 per barrel in 9,977 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.82 per cent lower at USD 77.24 per barrel while Brent crude was trading 0.42 per cent higher at USD 79.81 per barrel in New York.
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