Crude Oil Futures Rise on Spot Demand
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Crude oil futures gain in futures trade due to firm spot demand. January delivery up on MCX. WTI and Brent crude also rise.
New Delhi, Dec 8 (PTI) Crude oil prices on Monday rose Rs 14 to Rs 5,435 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 by Rs 14 or 0.26 per cent at Rs 5,435 per barrel in 2,694 lots.
Analysts said the rise of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.27 per cent higher at USD 60.24 per barrel, while Brent crude rose 0.27 per cent to USD 63.92 per barrel in New York.
On the Multi Commodity Exchange, crude oil for January delivery traded higher by Rs 14 or 0.26 per cent at Rs 5,435 per barrel in 2,694 lots.
Analysts said the rise of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.27 per cent higher at USD 60.24 per barrel, while Brent crude rose 0.27 per cent to USD 63.92 per barrel in New York.
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