Crude oil futures prices surged on Thursday, driven by increased spot demand. Learn more about the factors influencing the rise in oil prices.
New Delhi, Jan 25 (PTI) Crude oil prices on Thursday increased Rs 51 to Rs 6,304 per barrel in futures trade as participants widened their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for February delivery traded higher by Rs 51, or 0.82 per cent, at Rs 6,304 per barrel in 11,199 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude oil was up by 0.99 per cent to USD 75.83 per barrel, and Brent crude traded 0.87 per cent higher at USD 80.74 per barrel in New York.
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