Crude Oil Futures Rise on Spot Demand
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Crude oil futures prices increase due to firm spot demand. December delivery rises on MCX. Analysts cite increased bets.
New Delhi, Nov 27 (PTI) Crude oil prices on Thursday rose Rs 28 to Rs 5,221 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 Rs 28 or 0.54 per cent at Rs 5,221 per barrel in 15,793 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.51 per cent lower at USD 58.35 per barrel, while Brent crude fell 0.52 per cent to USD 62.80 per barrel in New York.
On the Multi Commodity Exchange, crude oil for December delivery traded higher Rs 28 or 0.54 per cent at Rs 5,221 per barrel in 15,793 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.51 per cent lower at USD 58.35 per barrel, while Brent crude fell 0.52 per cent to USD 62.80 per barrel in New York.
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