Crude Oil Futures Rise on Spot Demand
Crude oil futures prices rose on Friday due to increased buying spurred by strong spot demand. Learn more about the factors influencing oil prices.
New Delhi, Dec 27 (PTI) Crude oil prices on Friday rose Rs 3 to Rs 5,979 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 by Rs 3 or 0.05 per cent at Rs 5,979 per barrel in 8,583 lots.
Analysts said the raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.10 per cent lower at USD 69.55 per barrel while Brent crude was trading 0.16 per cent lower at USD 73.14 per barrel in New York.
On the Multi Commodity Exchange, crude oil for January delivery traded higher by Rs 3 or 0.05 per cent at Rs 5,979 per barrel in 8,583 lots.
Analysts said the raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.10 per cent lower at USD 69.55 per barrel while Brent crude was trading 0.16 per cent lower at USD 73.14 per barrel in New York.
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