Crude Oil Futures Rise on Spot Demand
Crude oil futures climbed on Tuesday, driven by increased positions and strong spot demand. Prices rose Rs 39 to Rs 5,940 per barrel on the Multi Commodity Exchange. Global crude prices also saw gains.
New Delhi, Dec 24 (PTI) Crude oil prices on Tuesday climbed Rs 39 to Rs 5,940 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 39 or 0.66 per cent at Rs 5,940 per barrel in 7,836 lots.
Analysts said the raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.43 per cent higher at USD 69.54 per barrel while Brent crude was trading 0.48 per cent higher at USD 72.98 per barrel in New York.
On the Multi Commodity Exchange, crude oil for January delivery traded higher Rs 39 or 0.66 per cent at Rs 5,940 per barrel in 7,836 lots.
Analysts said the raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.43 per cent higher at USD 69.54 per barrel while Brent crude was trading 0.48 per cent higher at USD 72.98 per barrel in New York.
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