Crude Oil Futures Rise on Spot Demand
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Crude oil futures gained on Wednesday due to increased spot demand. November delivery traded higher at Rs 5,346 per barrel.
New Delhi, Oct 29 (PTI) Crude oil prices on Wednesday rose Rs 16 to Rs 5,346 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 16 or 0.3 per cent at Rs 5,346 per barrel in 14,303 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.15 per cent higher at USD 60.30 per barrel, while Brent crude rose 0.28 per cent to USD 64.57 per barrel in New York.
On the Multi Commodity Exchange, crude oil for November delivery traded higher Rs 16 or 0.3 per cent at Rs 5,346 per barrel in 14,303 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.15 per cent higher at USD 60.30 per barrel, while Brent crude rose 0.28 per cent to USD 64.57 per barrel in New York.
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