Crude Oil Futures Rise on Spot Demand - PTI
Crude oil futures on the Multi Commodity Exchange climbed Rs 6 to Rs 5,908 per barrel on Thursday, driven by strong spot demand. Analysts attribute the rise to increased bets by participants.
Photograph: Carlos Garcia Rawlins/Reuters
New Delhi, Oct 17 (PTI) Crude oil prices on Thursday climbed Rs 6 to Rs 5,908 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 6 or 0.1 per cent at Rs 5,908 per barrel in 11,012 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.33 per cent higher at USD 70.63 per barrel, while Brent crude was trading 0.27 per cent down at USD 74.42 per barrel in New York.
On the Multi Commodity Exchange, crude oil for November delivery traded higher Rs 6 or 0.1 per cent at Rs 5,908 per barrel in 11,012 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.33 per cent higher at USD 70.63 per barrel, while Brent crude was trading 0.27 per cent down at USD 74.42 per barrel in New York.
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