Crude Oil Futures Rise on Spot Demand
Crude oil prices rose in futures trade on Monday, fueled by increased participant positions and firm spot demand. Global benchmarks also saw gains.
New Delhi, Mar 17 (PTI) Crude oil prices on Monday rose Rs 34 to Rs 5,875 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 34 or 0.58 per cent at Rs 5,875 per barrel in 4,346 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.60 per cent higher at USD 67.58 per barrel, while Brent crude was trading 0.57 per cent higher at USD 70.98 per barrel in New York.
On the Multi Commodity Exchange, crude oil for April delivery traded higher by Rs 34 or 0.58 per cent at Rs 5,875 per barrel in 4,346 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.60 per cent higher at USD 67.58 per barrel, while Brent crude was trading 0.57 per cent higher at USD 70.98 per barrel in New York.
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