Crude Oil Futures Rise on Spot Demand
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Crude oil futures gain in futures trade due to firm spot demand. November delivery rises on MCX. WTI and Brent crude also up.
New Delhi, Oct 8 (PTI) Crude oil prices on Wednesday rose Rs 54 to Rs 5,515 per barrel in futures trade as participants increased their positions following firm spot demand.
On the Multi Commodity Exchange, crude oil for November delivery traded higher Rs 54 or 0.99 per cent at Rs 5,515 per barrel in 4,244 lots.
Analysts said the rise in bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.89 per cent higher at USD 62.28 per barrel, while Brent crude rose 0.79 per cent to USD 65.97 per barrel in New York.
On the Multi Commodity Exchange, crude oil for November delivery traded higher Rs 54 or 0.99 per cent at Rs 5,515 per barrel in 4,244 lots.
Analysts said the rise in bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.89 per cent higher at USD 62.28 per barrel, while Brent crude rose 0.79 per cent to USD 65.97 per barrel in New York.
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