Crude Oil Futures Rise on Spot Demand
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Crude oil futures gain Rs 73 to Rs 5,769 per barrel on firm spot demand. Analysts cite increased bets as a factor in the price rise.
New Delhi, Feb 4 (PTI) Crude oil prices on Wednesday rose Rs 73 to Rs 5,769 per barrel in futures trade as participants increased their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for March delivery traded higher by Rs 73 or 1.28 per cent at Rs 5,769 per barrel in 468 lots.
Analysts said the rise of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.98 per cent higher at USD 63.83 per barrel, while Brent crude rose 0.79 per cent to USD 67.86 per barrel in New York.
On the Multi Commodity Exchange, crude oil for March delivery traded higher by Rs 73 or 1.28 per cent at Rs 5,769 per barrel in 468 lots.
Analysts said the rise of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.98 per cent higher at USD 63.83 per barrel, while Brent crude rose 0.79 per cent to USD 67.86 per barrel in New York.
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