Crude Oil Futures Rise on Spot Demand
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Crude oil futures gain on firm spot demand. November delivery up 0.51% at Rs 5,159/barrel. WTI & Brent crude also rise.
New Delhi, Oct 16 (PTI) Crude oil prices on Thursday rose Rs 26 to Rs 5,159 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 by Rs 26 or 0.51 per cent at Rs 5,159 per barrel in 15,417 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 1 per cent higher at USD 58.87 per barrel, while Brent crude rose 0.94 per cent to USD 62.49 per barrel in New York.
On the Multi Commodity Exchange, crude oil for November delivery traded higher by Rs 26 or 0.51 per cent at Rs 5,159 per barrel in 15,417 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 1 per cent higher at USD 58.87 per barrel, while Brent crude rose 0.94 per cent to USD 62.49 per barrel in New York.
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