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NEW DELHI: Crude oil prices rose by Rs 47 to Rs 4,891 per barrel on Monday as participants widened their positions on firm spot demand.
On the Multi Commodity Exchange, crude oil for March delivery traded higher by Rs 47, or 0.97 per cent, at Rs 4,891 per barrel in 6,114 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude oil gained 1.12 per cent to USD 66.83 per barrel, while Brent crude traded 1.15 per cent higher at USD 70.16 per barrel in New York.
This article was originally published by Indiatimes.com. Read the original article here.