Crude Oil Futures Rise on Spot Demand
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Crude oil futures prices increase due to strong spot demand. November delivery rises on MCX. WTI and Brent crude also up.
New Delhi, Oct 6 (PTI) Crude oil prices on Monday rose Rs 57 to Rs 5,484 per barrel in futures trade as participants increased their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for November delivery traded higher Rs 57 or 1.05 per cent at Rs 5,484 per barrel in 4,368 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 1.31 per cent higher at USD 61.68 per barrel, while Brent crude rose 1.29 per cent to USD 65.36 per barrel in New York.
On the Multi Commodity Exchange, crude oil for November delivery traded higher Rs 57 or 1.05 per cent at Rs 5,484 per barrel in 4,368 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 1.31 per cent higher at USD 61.68 per barrel, while Brent crude rose 1.29 per cent to USD 65.36 per barrel in New York.
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