Crude Oil Futures Rise on Spot Demand - PTI
Crude oil futures climbed Rs 68 to Rs 5,945 per barrel on Friday, driven by increased spot demand. Analysts cite raising of bets by participants as a key factor in the price rise.
New Delhi, Oct 18 (PTI) Crude oil prices on Friday climbed Rs 68 to Rs 5,945 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 68 or 1.16 per cent at Rs 5,945 per barrel in 12,765 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading marginally higher at USD 70.68 per barrel, while Brent crude was trading flat at USD 74.45 per barrel in New York.
On the Multi Commodity Exchange, crude oil for November delivery traded higher Rs 68 or 1.16 per cent at Rs 5,945 per barrel in 12,765 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading marginally higher at USD 70.68 per barrel, while Brent crude was trading flat at USD 74.45 per barrel in New York.
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