Crude Oil Futures Rise on Spot Demand | MCX
Dec 12, 2023 14:08
Crude oil futures on the MCX gained on Tuesday, driven by increased spot demand and rising bets from participants. Global oil prices also saw gains.
New Delhi, Dec 12 (PTI) Crude oil prices on Tuesday increased by Rs 9 to Rs 5,978 per barrel in futures trade as participants widened their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for December delivery traded higher by Rs 9 or 0.15 per cent at Rs 5,978 per barrel in 13,171 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude oil was up by 0.60 per cent to USD 71.75 per barrel, and Brent crude traded 0.53 per cent higher at USD 76.43 per barrel in New York.
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