Crude oil futures gain on spot demand

Crude oil prices on Monday rose by Rs 40 to Rs 5,768 per barrel in futures trade as participants increased their positions following a firm spot demand.On the Multi Commodity Exchange, crude oil for April delivery traded higher by Rs 40 or 0.7 per cent at Rs 5,768 per barrel in 8,515 lots. Analysts said raising of bets by participants kept crude oil prices higher in futures trade.

Crude oil prices on Monday rose by Rs 40 to Rs 5,768 per barrel in futures trade as participants increased their positions following a firm spot demand.

On the Multi Commodity Exchange, crude oil for April delivery traded higher by Rs 40 or 0.7 per cent at Rs 5,768 per barrel in 8,515 lots. Analysts said raising of bets by participants kept crude oil prices higher in futures trade. Globally, West Texas Intermediate crude oil was up by 1.04 per cent at USD 69.98 per barrel, and Brent crude traded 0.89 per cent higher at USD 75.66 per barrel in New York.

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