Crude Oil Futures Rise on Spot Demand
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Crude oil futures prices rise on firm spot demand. April delivery up 4.62% at Rs 8,406 per barrel on MCX. WTI & Brent crude also up.
New Delhi, Mar 12 (PTI) Crude oil prices on Thursday rose Rs 371 to Rs 8,406 per barrel in futures trade as participants widened their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for April delivery traded higher by Rs 371, or 4.62 per cent, at Rs 8,406 per barrel in 15,343 lots.
Analysts said the rise in bets by participants kept crude oil prices higher in the futures market.
Globally, West Texas Intermediate crude was trading 5.47 per cent higher at USD 92.02 per barrel, while Brent crude rose 5.89 per cent to USD 97.40 per barrel in New York.
On the Multi Commodity Exchange, crude oil for April delivery traded higher by Rs 371, or 4.62 per cent, at Rs 8,406 per barrel in 15,343 lots.
Analysts said the rise in bets by participants kept crude oil prices higher in the futures market.
Globally, West Texas Intermediate crude was trading 5.47 per cent higher at USD 92.02 per barrel, while Brent crude rose 5.89 per cent to USD 97.40 per barrel in New York.
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