Crude Oil Futures Rise on Spot Demand
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Crude oil futures gained on Friday due to firm spot demand. October delivery traded higher at Rs 5,798 per barrel on MCX.
Photograph: Vasily Fedosenko/Reuters
New Delhi, Sep 26 (PTI) Crude oil prices on Friday rose Rs 25 to Rs 5,798 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 25 or 0.43 per cent at Rs 5,798 per barrel in 10,965 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.34 per cent higher at USD 65.20 per barrel, while Brent crude rose 0.16 per cent to USD 69.53 per barrel in New York.
On the Multi Commodity Exchange, crude oil for October delivery traded higher Rs 25 or 0.43 per cent at Rs 5,798 per barrel in 10,965 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.34 per cent higher at USD 65.20 per barrel, while Brent crude rose 0.16 per cent to USD 69.53 per barrel in New York.
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