Crude oil futures rise 0.37% to Rs 3,839 per barrel, WTI trades flat at $52.42

Source: Reuters

Crude oil futures edged higher to Rs 3,839 per barrel on January 18 as participants increased their long positions as seen by the open interest. The crude oil price had gained 0.74 percent last week on the MCX.

Crude oil prices traded firm in the afternoon trade after a gap-down open, thus reversing earlier losses.

Money managers raised their net long US crude futures and options positions by 21,841 contracts to 349,965 in the week to January 12, US CFTC data showed.