Crude Oil Futures Rise on Spot Demand - PTI
Dec 05, 2023 15:10
Crude oil prices rose in futures trading on Tuesday due to strong spot demand, with the MCX contract gaining Rs 25 to Rs 6,182 per barrel. Analysts attributed the rise to increased bets by participants.
New Delhi, Dec 5 (PTI) Crude oil prices on Tuesday increased by Rs 25 to Rs 6,182 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 25 or 0.41 per cent at Rs 6,182 per barrel in 12,960 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 1.20 per cent to USD 73.92 per barrel, and Brent crude traded 1.15 per cent higher at USD 78.93 per barrel in New York.
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