Crude Oil Futures Rise on Spot Demand
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Crude oil futures gain Rs 62 to Rs 5,409/barrel on firm spot demand. Analysts cite increased bets as a key factor in futures trade.
New Delhi, Jan 13 (PTI) Crude oil prices on Tuesday rose Rs 62 to Rs 5,409 per barrel in futures trade as participants increased their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for February delivery traded higher by Rs 62 or 1.16 per cent at Rs 5,409 per barrel in 8,806 lots.
Analysts said the rise of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.45 per cent higher at USD 59.77 per barrel, while Brent crude rose 0.39 per cent to USD 64.12 per barrel in New York.
On the Multi Commodity Exchange, crude oil for February delivery traded higher by Rs 62 or 1.16 per cent at Rs 5,409 per barrel in 8,806 lots.
Analysts said the rise of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.45 per cent higher at USD 59.77 per barrel, while Brent crude rose 0.39 per cent to USD 64.12 per barrel in New York.
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