Crude Oil Futures Rise on Strong Demand - PTI

New Delhi, Mar 13 (PTI) Crude oil prices on Thursday inched up Rs 3 to Rs 5,909 per barrel in futures trade as participants increased their positions following a firm spot demand.

On the Multi Commodity Exchange, crude oil for April delivery grew by Rs 3 to Rs 5,909 per barrel in 3,514 lots.

Analysts said the raising of bets by participants kept crude oil prices higher in futures trade.

Globally, West Texas Intermediate crude was up 0.07 per cent at USD 67.73 per barrel while Brent Crude was quoting 0.14 per cent higher at USD 71.05 a barrel in New York.

According to Mehta Equities VP of Commodities Rahul Kalantri, crude oil prices showed very high price volatility and extended gains amid cooling-off US inflation and rebound in the US equity markets.