Crude oil futures move higher on spot demand
On MCX, crude oil for April delivery traded higher by Rs 16 at Rs 4,454 per barrel.
By PTI |
NEW DELHI: Crude oil prices rose by Rs 16 to Rs 4,454 per barrel on Friday as participants widened their positions on firm spot demand.
On the Multi Commodity Exchange, crude oil for April delivery traded higher by Rs 16, or 0.36 per cent, at Rs 4,454 per barrel in 6,838 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude oil fell 0.15 per cent to USD 59.51 per barrel, while Brent crude traded 0.27 per cent lower at USD 63.03 per barrel in New York.
On the Multi Commodity Exchange, crude oil for April delivery traded higher by Rs 16, or 0.36 per cent, at Rs 4,454 per barrel in 6,838 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude oil fell 0.15 per cent to USD 59.51 per barrel, while Brent crude traded 0.27 per cent lower at USD 63.03 per barrel in New York.
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