Crude Oil Futures Rise on Spot Demand
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Crude oil futures gain Rs 133 to Rs 5,696/barrel on MCX due to firm spot demand. Analysts cite increased participant bets.
Illustration: Uttam Ghosh/Rediff.com
New Delhi, Feb 9 (PTI) Crude oil prices on Monday rose Rs 133 to Rs 5,696 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 133 or 2.28 per cent at Rs 5,696 per barrel in 836 lots.
Analysts said the rise of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 1.04 per cent higher at USD 62.89 per barrel, while Brent crude rose 1.06 per cent to USD 67.33 per barrel in New York.
On the Multi Commodity Exchange, crude oil for March delivery traded higher by Rs 133 or 2.28 per cent at Rs 5,696 per barrel in 836 lots.
Analysts said the rise of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 1.04 per cent higher at USD 62.89 per barrel, while Brent crude rose 1.06 per cent to USD 67.33 per barrel in New York.
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