Crude Oil Futures Rise on Spot Demand
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Crude oil futures gained on Monday due to increased spot demand. October delivery traded higher at Rs 5,550 per barrel.
New Delhi, Sep 22 (PTI) Crude oil prices on Monday rose Rs 23 to Rs 5,550 per barrel in futures trade as participants increased their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for October delivery traded higher Rs 23 or 0.42 per cent at Rs 5,550 per barrel in 12,565 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.48 per cent higher at USD 63.16 per barrel, while Brent crude rose 0.57 per cent to USD 67.06 per barrel in New York.
On the Multi Commodity Exchange, crude oil for October delivery traded higher Rs 23 or 0.42 per cent at Rs 5,550 per barrel in 12,565 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.48 per cent higher at USD 63.16 per barrel, while Brent crude rose 0.57 per cent to USD 67.06 per barrel in New York.
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