Crude Oil Futures Rise on Spot Demand
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Crude oil futures gain on firm spot demand. December delivery up 1.03% at Rs 5,379 per barrel on MCX. WTI & Brent crude prices also rise.
New Delhi, Dec 1 (PTI) Crude oil prices on Monday rose Rs 55 to Rs 5,379 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 55 or 1.03 per cent at Rs 5,379 per barrel in 13,909 lots.
Analysts said the rise of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 2.39 per cent higher at USD 59.94 per barrel, while Brent crude rose 2.29 per cent to USD 63.80 per barrel in New York.
On the Multi Commodity Exchange, crude oil for December delivery traded higher Rs 55 or 1.03 per cent at Rs 5,379 per barrel in 13,909 lots.
Analysts said the rise of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 2.39 per cent higher at USD 59.94 per barrel, while Brent crude rose 2.29 per cent to USD 63.80 per barrel in New York.
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