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Crude oil futures gain on spot demand, global cues

Feb 6, 2020, 12:32 IST

PTI

New Delhi, Feb 6 () Crude oil prices on Thursday rose by Rs 36 to Rs 3,716 per barrel as speculators created fresh positions amid positive global trends.

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

On the Multi Commodity Exchange, crude oil for delivery in February traded higher by Rs 36, or 0.98 per cent, to Rs 3,716 per barrel in 40,185 lots.

Crude oil for March delivery was up by Rs 39, or 1.05 per cent, at Rs 3,742 per barrel with an open interest of 1,104 lots.

Globally, West Texas Intermediate was trading higher by 2.72 per cent to USD 52.13 per barrel.

Meanwhile, Brent crude, the international benchmark, edged up 2.28 per cent to USD 56.54 per barrel in New York. VHP SHWSHW

(This story has not been edited by www.businessinsider.in and is auto–generated from a syndicated feed we subscribe to.)