Crude Oil Prices Rise on Spot Demand - PTI
Crude oil futures gained Rs 9 to Rs 6,219 per barrel on Friday, driven by increased demand. Analysts attribute the rise to higher betting by participants.
New Delhi, Feb 7 (PTI) Crude oil prices on Friday climbed Rs 9 to Rs 6,219 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 9 or 0.14 per cent at Rs 6,219 per barrel in 837 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.50 per cent higher at USD 70.96 per barrel while Brent crude was trading 0.62 per cent higher at USD 74.75 per barrel in New York.
On the Multi Commodity Exchange, crude oil for March delivery traded higher by Rs 9 or 0.14 per cent at Rs 6,219 per barrel in 837 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.50 per cent higher at USD 70.96 per barrel while Brent crude was trading 0.62 per cent higher at USD 74.75 per barrel in New York.
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