Crude Oil Futures Rise on Spot Demand
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Crude oil futures gain Rs 48 to Rs 5,310/barrel on firm spot demand. Analysts cite increased participant positions in futures trade.
New Delhi, Nov 7 (PTI) Crude oil prices on Friday rose Rs 48 to Rs 5,310 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 48 or 0.91 per cent at Rs 5,310 per barrel in 12,112 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.50 per cent higher at USD 59.73 per barrel, while Brent crude rose 0.46 per cent to USD 63.66 per barrel in New York.
On the Multi Commodity Exchange, crude oil for November delivery traded higher Rs 48 or 0.91 per cent at Rs 5,310 per barrel in 12,112 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.50 per cent higher at USD 59.73 per barrel, while Brent crude rose 0.46 per cent to USD 63.66 per barrel in New York.
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