Crude Oil Futures Rise on Spot Demand - PTI
Crude oil futures climbed Rs 5 to Rs 6,045 per barrel on Wednesday due to strong spot demand, while global benchmarks like WTI and Brent traded lower.
New Delhi, Oct 23 (PTI) Crude oil futures on Wednesday climbed Rs 5 to Rs 6,045 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 by Rs 5 or 0.08 per cent at Rs 6,045 per barrel in 14,417 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.17 per cent lower at USD 71.62 per barrel, while Brent crude was trading 0.14 per cent down at USD 75.93 per barrel in New York.
On the Multi Commodity Exchange, crude oil for November delivery traded higher by Rs 5 or 0.08 per cent at Rs 6,045 per barrel in 14,417 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.17 per cent lower at USD 71.62 per barrel, while Brent crude was trading 0.14 per cent down at USD 75.93 per barrel in New York.
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