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 rises on MCX. WTI and Brent crude also up.
New Delhi, Dec 17 (PTI) Crude oil prices on Wednesday rose Rs 25 to Rs 5,096 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 25 or 0.49 per cent at Rs 5,096 per barrel in 16,892 lots.
Analysts said the rise of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 1.59 per cent higher at USD 56.15 per barrel, while Brent crude rose 1.56 per cent to USD 59.84 per barrel in New York.
On the Multi Commodity Exchange, crude oil for January delivery traded higher by Rs 25 or 0.49 per cent at Rs 5,096 per barrel in 16,892 lots.
Analysts said the rise of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 1.59 per cent higher at USD 56.15 per barrel, while Brent crude rose 1.56 per cent to USD 59.84 per barrel in New York.
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