Crude oil futures move higher on spot demand
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
By PTI |
NEW DELHI: Crude oil prices rose by Rs 22 to Rs 4,406 per barrel on Thursday as participants widened their positions on firm spot demand.
On the Multi Commodity Exchange, crude oil for April delivery traded higher by Rs 22, or 0.5 per cent, at Rs 4,406 per barrel in 5016 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude oil gained 1.22 per cent to USD 59.88 per barrel, while Brent crude traded 0.94 per cent lower at USD 63.54 per barrel in New York.
On the Multi Commodity Exchange, crude oil for April delivery traded higher by Rs 22, or 0.5 per cent, at Rs 4,406 per barrel in 5016 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude oil gained 1.22 per cent to USD 59.88 per barrel, while Brent crude traded 0.94 per cent lower at USD 63.54 per barrel in New York.
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