Crude Oil Futures Rise on Spot Demand - PTI
Crude oil futures climbed on Monday, driven by increased demand in the spot market. WTI and Brent crude also saw gains in global markets.
New Delhi, Dec 23 (PTI) Crude oil prices on Monday climbed Rs 26 to Rs 5,964 per barrel in futures trade as participants increased their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for January delivery traded higher Rs 26 or 0.44 per cent at Rs 5,964 per barrel in 7,939 lots.
Analysts said the raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.59 per cent higher at USD 69.87 per barrel while Brent crude was trading 0.51 per cent higher at USD 73.31 per barrel in New York.
On the Multi Commodity Exchange, crude oil for January delivery traded higher Rs 26 or 0.44 per cent at Rs 5,964 per barrel in 7,939 lots.
Analysts said the raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.59 per cent higher at USD 69.87 per barrel while Brent crude was trading 0.51 per cent higher at USD 73.31 per barrel in New York.
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