Crude Oil Futures Rise on Spot Demand
Crude oil futures gained on Thursday, driven by increased demand. West Texas Intermediate and Brent crude also saw gains in global markets.
New Delhi, Feb 27 (PTI) Crude oil prices on Thursday gained Rs 15 to Rs 6,015 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 15 or 0.25 per cent at Rs 6,015 per barrel in 4,778 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude oil was trading 0.44 per cent higher at USD 68.92 per barrel, while Brent crude went up 0.37 per cent to USD 72.80 per barrel in New York.
On the Multi Commodity Exchange, crude oil for March delivery traded higher by Rs 15 or 0.25 per cent at Rs 6,015 per barrel in 4,778 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude oil was trading 0.44 per cent higher at USD 68.92 per barrel, while Brent crude went up 0.37 per cent to USD 72.80 per barrel in New York.
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