Crude oil futures gained on Monday due to increased spot demand, with prices rising to Rs 6,645 per barrel on the Multi Commodity Exchange. Analysts attribute the rise to increased bets by participants.
New Delhi, Mar 4 (PTI) Crude oil prices on Monday climbed Rs 7 to Rs 6,645 per barrel in futures trade as participants widened their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for March delivery traded higher Rs 7 or 0.11 per cent at Rs 6,645 per barrel in 8,439 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude oil was down 0.04 per cent to USD 79.94 per barrel, and Brent crude traded 0.10 per cent higher at USD 83.63 per barrel in New York.
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