Crude Oil Futures Edge Higher on Firm Spot Demand

Crude oil futures prices have shown a modest increase due to strong spot demand. On the Multi Commodity Exchange, crude oil for March delivery rose by Rs 3 to Rs 6,168 per barrel, with 2,408 lots traded. Analysts attribute this uptick to participants raising their bets in response to firm spot demand. However, global benchmarks paint a mixed picture, with West Texas Intermediate crude slightly down at $70.68 per barrel, while Brent crude marginally increased to $74.75 per barrel in New York. This local price movement comes amid broader economic uncertainties, including potential impacts from U.S. trade policies and fluctuating global demand patterns.

 

Source: PTI