Crude oil futures gain on spot demand
On Multi Commodity Exchange, crude oil for March delivery traded 0.23% higher at Rs 4,808 per barrel.
By PTI |
Reuters
NEW DELHI: Crude oil prices rose by Rs 11 to Rs 4,808 per barrel on Monday as participants widened their positions on firm spot demand.
On the Multi Commodity Exchange, crude oil for March delivery traded higher by Rs 11, or 0.23 per cent, at Rs 4,808 per barrel in 4,709 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude oil gained 0.81 per cent to USD 66.14 per barrel, while Brent crude traded 0.75 per cent higher at USD 69.74 per barrel in New York.
On the Multi Commodity Exchange, crude oil for March delivery traded higher by Rs 11, or 0.23 per cent, at Rs 4,808 per barrel in 4,709 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude oil gained 0.81 per cent to USD 66.14 per barrel, while Brent crude traded 0.75 per cent higher at USD 69.74 per barrel in New York.
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