Crude Oil Futures Rise on Strong Spot Demand
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Crude oil futures gained on Monday due to increased demand, with prices hitting Rs 5,415 per barrel. Read about the factors influencing the rise.
New Delhi, Apr 28 (PTI) Crude oil prices on Monday rose Rs 19 to Rs 5,415 per barrel in futures trade as participants increased their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for May delivery traded higher by Rs 19 or 0.35 per cent at Rs 5,415 per barrel in 13,451 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.38 per cent higher at USD 63.26 per barrel while Brent crude was trading 0.30 per cent higher at USD 67.07 per barrel in New York.
On the Multi Commodity Exchange, crude oil for May delivery traded higher by Rs 19 or 0.35 per cent at Rs 5,415 per barrel in 13,451 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.38 per cent higher at USD 63.26 per barrel while Brent crude was trading 0.30 per cent higher at USD 67.07 per barrel in New York.
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