Crude Oil Futures Rise on Spot Demand
Crude oil futures climbed on the Multi Commodity Exchange, driven by increased demand. West Texas Intermediate and Brent crude also rose in global markets.
New Delhi, Feb 25 (PTI) Crude oil prices on Tuesday climbed Rs 47 to Rs 6,197 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 47 or 0.76 per cent at Rs 6,197 per barrel in 1,481 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.50 per cent higher at USD 71.05 per barrel, while Brent crude was trading 0.39 per cent higher at USD 75.07 per barrel in New York.
On the Multi Commodity Exchange, crude oil for March delivery traded higher by Rs 47 or 0.76 per cent at Rs 6,197 per barrel in 1,481 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.50 per cent higher at USD 71.05 per barrel, while Brent crude was trading 0.39 per cent higher at USD 75.07 per barrel in New York.
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