Crude Oil Futures Rise on Spot Demand
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Crude oil futures gain in futures trade due to increased spot demand. November delivery up on MCX. WTI and Brent crude also rise.
New Delhi, Oct 7 (PTI) Crude oil prices on Tuesday rose Rs 8 to Rs 5,486 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 8 or 0.15 per cent at Rs 5,486 per barrel in 4,209 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.26 per cent higher at USD 61.85 per barrel, while Brent crude rose 0.26 per cent to USD 65.64 per barrel in New York.
On the Multi Commodity Exchange, crude oil for November delivery traded higher Rs 8 or 0.15 per cent at Rs 5,486 per barrel in 4,209 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.26 per cent higher at USD 61.85 per barrel, while Brent crude rose 0.26 per cent to USD 65.64 per barrel in New York.
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