Crude Oil Futures Rise on Spot Demand
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Crude oil futures gained Rs 70 to Rs 5,269/barrel on firm spot demand. Analysts cite increased bets. WTI & Brent also rose.
New Delhi, Dec 12 (PTI) Crude oil prices on Friday rose Rs 70 to Rs 5,269 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 70 or 1.35 per cent at Rs 5,269 per barrel in 8,516 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.75 per cent higher at USD 58.03 per barrel, while Brent crude rose 0.69 per cent to USD 61.70 per barrel in New York.
On the Multi Commodity Exchange, crude oil for January delivery traded higher Rs 70 or 1.35 per cent at Rs 5,269 per barrel in 8,516 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.75 per cent higher at USD 58.03 per barrel, while Brent crude rose 0.69 per cent to USD 61.70 per barrel in New York.
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