Crude Oil Futures Rise on Spot Demand
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Crude oil futures gain on firm spot demand. January delivery up on MCX. WTI and Brent crude prices also rise in New York.
New Delhi, Dec 2 (PTI) Crude oil prices on Tuesday rose Rs 21 to Rs 5,342 per barrel in futures trade as participants increased their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for January delivery traded higher Rs 21 or 0.39 per cent at Rs 5,342 per barrel in 2,329 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.15 per cent higher at USD 59.41 per barrel, while Brent crude rose 0.08 per cent to USD 63.21 per barrel in New York.
On the Multi Commodity Exchange, crude oil for January delivery traded higher Rs 21 or 0.39 per cent at Rs 5,342 per barrel in 2,329 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.15 per cent higher at USD 59.41 per barrel, while Brent crude rose 0.08 per cent to USD 63.21 per barrel in New York.
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