Crude Oil Futures Rise on Spot Demand
Crude oil futures climbed on Wednesday, driven by increased demand. The price rose to Rs 6,347 per barrel on the Multi Commodity Exchange, while global benchmarks saw slight declines.
New Delhi, Feb 5 (PTI) Crude oil prices on Wednesday climbed Rs 4 to Rs 6,347 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 4 or 0.06 per cent at Rs 6,347 per barrel in 5,310 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.18 per cent lower at USD 72.52 per barrel while Brent crude was trading 0.39 per cent lower at USD 75.90 per barrel in New York.
On the Multi Commodity Exchange, crude oil for February delivery traded higher by Rs 4 or 0.06 per cent at Rs 6,347 per barrel in 5,310 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.18 per cent lower at USD 72.52 per barrel while Brent crude was trading 0.39 per cent lower at USD 75.90 per barrel in New York.
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