Crude oil futures marginally up at Rs 6,060 per barrel on firm demand

New Delhi: Crude oil prices edged up to Rs 6,060 per barrel in futures trade on Friday following firm spot demand and persistent geopolitical concerns.

On the Multi Commodity Exchange, crude oil for March delivery traded higher by Rs 2 or 0.03 per cent at Rs 6,060 per barrel in 5,064 lots.

Analysts said increased bets by participants kept crude oil prices elevated in futures trade.

In the international markets, West Texas Intermediate crude oil was trading 0.93 per cent higher at USD 67.05 per barrel, while Brent crude gained 0.29 per cent to USD 71.87 per barrel.

Brokerage firm Axis Securities, in a market note, said that crude oil prices climbed above the USD 66 level for the first time since August 2025, indicating a bullish trend.

It added that oil prices got support from escalating geopolitical tensions between the US and Iran, with the probability of a strike by Washington on Tehran increasing after reports of the deployment of fighter jets and an aircraft carrier to the region. PTI DR HGBAL MR