Crude Oil Futures Rise on Spot Demand
Crude oil futures prices climbed on Wednesday, driven by increased demand. Spot demand, along with rising bets from participants, contributed to the increase.
New Delhi, Feb 19 (PTI) Crude oil prices on Wednesday climbed Rs 36 to Rs 6,283 per barrel in futures trade as participants increased their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for March delivery traded higher by Rs 36 or 0.58 per cent at Rs 6,283 per barrel in 3,474 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.36 per cent higher at USD 72.11 per barrel, while Brent crude was trading 0.33 per cent higher at USD 76.09 per barrel in New York.
On the Multi Commodity Exchange, crude oil for March delivery traded higher by Rs 36 or 0.58 per cent at Rs 6,283 per barrel in 3,474 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.36 per cent higher at USD 72.11 per barrel, while Brent crude was trading 0.33 per cent higher at USD 76.09 per barrel in New York.
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