Crude Oil Futures Rise on Spot Demand
Crude oil futures increased on Thursday due to strong spot demand. The price per barrel rose to Rs 6,217, up Rs 98 from the previous day.
New Delhi, Oct 10 (PTI) Crude oil futures on Thursday increased Rs 98 to Rs 6,217 per barrel in futures trade as participants widened their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for October delivery traded higher by Rs 98 or 1.6 per cent at Rs 6,217 per barrel in 11,998 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.97 per cent higher at USD 73.95 per barrel, while Brent crude was trading 0.91 per cent up at USD 77.28 per barrel in New York.
On the Multi Commodity Exchange, crude oil for October delivery traded higher by Rs 98 or 1.6 per cent at Rs 6,217 per barrel in 11,998 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.97 per cent higher at USD 73.95 per barrel, while Brent crude was trading 0.91 per cent up at USD 77.28 per barrel in New York.
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