Crude Oil Futures Rise on Spot Demand
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Crude oil futures climb on firm spot demand. February delivery up 1.44% at Rs 5,787/barrel on MCX. WTI & Brent crude also rise.
New Delhi, Jan 28 (PTI) Crude oil prices on Wednesday rose by Rs 82 to Rs 5,787 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 82 or 1.44 per cent at Rs 5,787 per barrel in 32,055 lots.
Analysts said the rise of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.71 per cent higher at USD 62.83 per barrel, while Brent crude rose 0.58 per cent to USD 67.96 per barrel in New York.
On the Multi Commodity Exchange, crude oil for February delivery traded higher by Rs 82 or 1.44 per cent at Rs 5,787 per barrel in 32,055 lots.
Analysts said the rise of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.71 per cent higher at USD 62.83 per barrel, while Brent crude rose 0.58 per cent to USD 67.96 per barrel in New York.
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