Crude oil futures climbed on the Multi Commodity Exchange on Wednesday, driven by increased positions due to strong spot demand. WTI and Brent crude also saw gains.
New Delhi, Nov 27 (PTI) Crude oil prices on Wednesday climbed Rs 73 to Rs 5,849 per barrel in futures trade as participants increased their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for December delivery traded higher Rs 73 or 1.26 per cent at Rs 5,849 per barrel in 10,522 lots.
Analysts said the raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.52 per cent higher at USD 69.13 per barrel, while Brent crude was trading 0.52 per cent higher at USD 73.19 per barrel in New York.
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