Crude Oil Futures Rise on Spot Demand
Crude oil futures climbed on Monday as spot demand increased, with West Texas Intermediate and Brent crude also seeing gains in New York.
New Delhi, Dec 9 (PTI) Crude oil prices on Monday climbed Rs 51 to Rs 5,777 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 51 or 0.89 per cent at Rs 5,777 per barrel in 12,178 lots.
Analysts said the raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 1.12 per cent higher at USD 67.95 per barrel while Brent crude was trading 1.01 per cent higher at USD 71.84 per barrel in New York.
On the Multi Commodity Exchange, crude oil for December delivery traded higher Rs 51 or 0.89 per cent at Rs 5,777 per barrel in 12,178 lots.
Analysts said the raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 1.12 per cent higher at USD 67.95 per barrel while Brent crude was trading 1.01 per cent higher at USD 71.84 per barrel in New York.
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