New Delhi, March 3 – Crude oil prices rose by Rs 14 to Rs 6,132 per barrel on Monday in futures trading, as market participants ramped up their positions in response to strong spot demand.
On the Multi Commodity Exchange (MCX), crude oil for April delivery saw an increase of Rs 14, or 0.23%, reaching Rs 6,132 per barrel, with a total of 3,085 lots being traded.
Analysts attributed the price hike to the growing participation of traders, who continued to place higher bets, keeping the futures prices elevated.
Globally, crude oil markets also reflected positive movement. West Texas Intermediate (WTI) crude climbed by 0.40%, trading at USD 70.04 per barrel, while Brent crude rose 0.37%, reaching USD 73.08 per barrel in New York.
This uptick in crude prices highlights the global market's response to both increasing demand and speculative trading activity.
On the Multi Commodity Exchange (MCX), crude oil for April delivery saw an increase of Rs 14, or 0.23%, reaching Rs 6,132 per barrel, with a total of 3,085 lots being traded.
Analysts attributed the price hike to the growing participation of traders, who continued to place higher bets, keeping the futures prices elevated.
Globally, crude oil markets also reflected positive movement. West Texas Intermediate (WTI) crude climbed by 0.40%, trading at USD 70.04 per barrel, while Brent crude rose 0.37%, reaching USD 73.08 per barrel in New York.
This uptick in crude prices highlights the global market's response to both increasing demand and speculative trading activity.
