Crude Oil Futures Rise on Spot Demand

Oct 30, 2024 13:11

Crude oil futures climbed on Wednesday due to increased spot demand, with prices reaching Rs 5,705 per barrel. West Texas Intermediate and Brent crude also saw gains in global markets.

New Delhi, Oct 30 (PTI) Crude oil prices on Wednesday climbed Rs 37 to Rs 5,705 per barrel in futures trade as participants widened their positions following a firm spot demand.

On the Multi Commodity Exchange, crude oil for November delivery traded higher Rs 37 or 0.65 per cent at Rs 5,705 per barrel in 15,147 lots.

Analysts said raising of bets by participants kept crude oil prices higher in futures trade.

Globally, West Texas Intermediate crude was trading 0.61 per cent higher at USD 67.62 per barrel, while Brent crude was trading 0.37 per cent up at USD 71.49 per barrel in New York.

Source: PTI

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Crude Oil Futures Rise on Spot Demand

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