Crude Oil Prices Rise on Spot Demand
Crude oil futures climbed on the Multi Commodity Exchange due to increased demand. Brent and West Texas Intermediate crude also saw gains in New York.
New Delhi, Jan 30 (PTI) Crude oil prices on Thursday climbed Rs 11 to Rs 6,305 per barrel in futures trade as participants increased their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for February delivery traded higher by Rs 11 or 0.17 per cent at Rs 6,305 per barrel in 8,147 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.07 per cent higher at USD 72.67 per barrel while Brent crude was trading 0.05 per cent higher at USD 76.54 per barrel in New York.
On the Multi Commodity Exchange, crude oil for February delivery traded higher by Rs 11 or 0.17 per cent at Rs 6,305 per barrel in 8,147 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.07 per cent higher at USD 72.67 per barrel while Brent crude was trading 0.05 per cent higher at USD 76.54 per barrel in New York.
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