Crude Oil Futures Rise on Spot Demand
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Crude oil futures gain on firm spot demand. January delivery up 0.69% at Rs 5,293/barrel on MCX. West Texas Intermediate & Brent crude prices.
New Delhi, Dec 9 (PTI) Crude oil prices on Tuesday rose Rs 37 to Rs 5,293 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 37 or 0.69 per cent at Rs 5,293 per barrel in 3,324 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.37 per cent lower at USD 58.66 per barrel, while Brent crude fell 0.29 per cent to USD 62.31 per barrel in New York.
On the Multi Commodity Exchange, crude oil for January delivery traded higher Rs 37 or 0.69 per cent at Rs 5,293 per barrel in 3,324 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.37 per cent lower at USD 58.66 per barrel, while Brent crude fell 0.29 per cent to USD 62.31 per barrel in New York.
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