Crude Oil Futures Rise on Spot Demand
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Crude oil futures gained on firm spot demand. January delivery up on MCX. WTI and Brent crude prices also increased globally.
New Delhi, Dec 18 (PTI) Crude oil prices on Thursday rose Rs 10 to Rs 5,091 per barrel in futures trade as participants increased their positions following firm spot demand.
On the Multi Commodity Exchange, crude oil for January delivery traded higher by Rs 10 or 0.2 per cent at Rs 5,091 per barrel in 5,542 lots.
Analysts said the rise of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.91 per cent higher at USD 56.44 per barrel, while Brent crude rose 0.79 per cent to USD 60.15 per barrel in New York.
On the Multi Commodity Exchange, crude oil for January delivery traded higher by Rs 10 or 0.2 per cent at Rs 5,091 per barrel in 5,542 lots.
Analysts said the rise of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude was trading 0.91 per cent higher at USD 56.44 per barrel, while Brent crude rose 0.79 per cent to USD 60.15 per barrel in New York.
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