Crude Oil Futures Rise on Spot Demand
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Crude oil futures gain in futures trade due to increased spot demand. December delivery up 1.04% at Rs 5,364 per barrel.
New Delhi, Nov 10 (PTI) Crude oil prices on Monday rose Rs 55 to Rs 5,364 per barrel in futures trade as participants increased their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for December delivery traded higher by Rs 55 or 1.04 per cent at Rs 5,364 per barrel in 4,304 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.95 per cent higher at USD 60.32 per barrel, while Brent crude rose 0.85 per cent to USD 64.15 per barrel in New York.
On the Multi Commodity Exchange, crude oil for December delivery traded higher by Rs 55 or 1.04 per cent at Rs 5,364 per barrel in 4,304 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.95 per cent higher at USD 60.32 per barrel, while Brent crude rose 0.85 per cent to USD 64.15 per barrel in New York.
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