Crude Oil Futures Rise on Spot Demand
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Crude oil futures prices rise on firm spot demand. November delivery trades higher on MCX. WTI and Brent crude also up.
New Delhi, Oct 23 (PTI) Crude oil prices on Thursday rose Rs 200 to Rs 5,351 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 200 or 3.88 per cent at Rs 5,351 per barrel in 17,430 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude for the December contract was trading 3.30 per cent higher at USD 60.42 per barrel, while Brent crude for the December contract rose 3.21 per cent to USD 64.60 per barrel in New York.
On the Multi Commodity Exchange, crude oil for November delivery traded higher Rs 200 or 3.88 per cent at Rs 5,351 per barrel in 17,430 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude for the December contract was trading 3.30 per cent higher at USD 60.42 per barrel, while Brent crude for the December contract rose 3.21 per cent to USD 64.60 per barrel in New York.
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