Crude Oil Futures Rise on Spot Demand
Crude oil prices surged in futures trade on Thursday due to increased demand. The rise in prices was also fueled by participants raising their bets. Globally, WTI crude was trading at USD 66.73 per barrel while Brent crude was at USD 69.74 per barrel.
New Delhi, Mar 6 (PTI) Crude oil prices on Thursday grew Rs 59 to Rs 5,807 per barrel in futures trade as participants increased their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for April delivery traded higher by Rs 59 or 1.03 per cent at Rs 5,807 per barrel in 1,657 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.63 per cent higher at USD 66.73 per barrel while Brent crude was trading 0.63 per cent higher at USD 69.74 per barrel in New York.
On the Multi Commodity Exchange, crude oil for April delivery traded higher by Rs 59 or 1.03 per cent at Rs 5,807 per barrel in 1,657 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.63 per cent higher at USD 66.73 per barrel while Brent crude was trading 0.63 per cent higher at USD 69.74 per barrel in New York.
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