Crude Oil Futures Rise on Spot Demand
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Crude oil futures gained in futures trade due to firm spot demand. December delivery traded higher at Rs 5,297 per barrel.
New Delhi, Nov 28 (PTI) Crude oil prices on Friday rose Rs 7 to Rs 5,297 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 7 or 0.13 per cent at Rs 5,297 per barrel in 14,910 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.73 per cent higher at USD 59.08 per barrel, while Brent crude rose 0.36 per cent to USD 63.57 per barrel in New York.
On the Multi Commodity Exchange, crude oil for December delivery traded higher Rs 7 or 0.13 per cent at Rs 5,297 per barrel in 14,910 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.73 per cent higher at USD 59.08 per barrel, while Brent crude rose 0.36 per cent to USD 63.57 per barrel in New York.
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