Crude Oil Futures Rise on Spot Demand - PTI
Crude oil futures climbed Rs 68 to Rs 6,044 per barrel in futures trade on Thursday, driven by firm spot demand. Analysts attribute the rise to increased bets by participants.
New Delhi, Oct 24 (PTI) Crude oil futures on Thursday climbed Rs 68 to Rs 6,044 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 68 or 1.14 per cent at Rs 6,044 per barrel in 13,571 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 1.44 per cent lower at USD 71.79 per barrel, while Brent crude was 1.28 per cent down at USD 75.92 per barrel in New York.
On the Multi Commodity Exchange, crude oil for November delivery traded higher by Rs 68 or 1.14 per cent at Rs 6,044 per barrel in 13,571 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 1.44 per cent lower at USD 71.79 per barrel, while Brent crude was 1.28 per cent down at USD 75.92 per barrel in New York.
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