Crude Oil Futures Rise on Spot Demand
Crude oil prices surged in futures trade on Friday, fueled by increased demand. WTI and Brent crude also saw gains in global markets.
New Delhi, Mar 7 (PTI) Crude oil prices on Friday rose Rs 33 to Rs 5,813 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 33 or 0.57 per cent at Rs 5,813 per barrel in 1,846 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.44 per cent higher at USD 66.65 per barrel while Brent crude was trading 0.48 per cent higher at USD 69.79 per barrel in New York.
On the Multi Commodity Exchange, crude oil for April delivery traded higher by Rs 33 or 0.57 per cent at Rs 5,813 per barrel in 1,846 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.44 per cent higher at USD 66.65 per barrel while Brent crude was trading 0.48 per cent higher at USD 69.79 per barrel in New York.
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