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 increase in New York.
New Delhi, Dec 10 (PTI) Crude oil prices on Wednesday rose Rs 13 to Rs 5,274 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 13 or 0.25 per cent at Rs 5,274 per barrel in 5,167 lots.
Analysts said the rise of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.22 per cent higher at USD 58.38 per barrel, while Brent crude rose 0.21 per cent to USD 62.07 per barrel in New York.
On the Multi Commodity Exchange, crude oil for January delivery traded higher by Rs 13 or 0.25 per cent at Rs 5,274 per barrel in 5,167 lots.
Analysts said the rise of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.22 per cent higher at USD 58.38 per barrel, while Brent crude rose 0.21 per cent to USD 62.07 per barrel in New York.
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