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BW Businessworld

Crude Oil Futures Rise On Spot Demand

On the Multi Commodity Exchange, crude oil for April delivery traded higher by Rs 63, or 1.44 per cent, at Rs 4,430 per barrel in 5,051 lots.

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Crude oil prices rose by Rs 63 to Rs 4,430 per barrel on Wednesday as participants widened their positions on firm spot demand.

On the Multi Commodity Exchange, crude oil for April delivery traded higher by Rs 63, or 1.44 per cent, at Rs 4,430 per barrel in 5,051 lots.

Analysts said raising of bets by participants kept crude oil prices higher in futures trade.

Globally, West Texas Intermediate crude oil gained 0.25 per cent to USD 59.48 per barrel, while Brent crude traded 0.25 per cent higher at USD 62.90 per barrel in New York.

(PTI)