Crude oil futures rise over 2% on global cuesAnalysts said raising of bets by participants kept crude prices higher in futures trade here
Last Updated IST
: An employee demonstrates a sample of crude oil in the Yarakta Oil Field, owned by Irkutsk Oil Company (INK), in Irkutsk Region, Russia in this picture illustration taken March 11, 2019. (Reuters Photo)
Crude oil prices on Wednesday surged 2.37 per cent to Rs 3,539 per barrel as participants enlarged their holdings tracking a positive trend overseas.
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 March traded higher by Rs 82, or 2.37 per cent, to Rs 3,539 per barrel in 32,831 lots.
Crude oil for April delivery was up by Rs 83, or 2.38 per cent, to Rs 3,569 per barrel with an open interest of 975 lots.
Globally, West Texas Intermediate was trading higher by 1.63 per cent at USD 47.95 per barrel and Brent crude was up by 1.58 per cent to USD 52.68 per barrel in New York.