Crude oil prices surged on Friday, driven by robust spot demand. WTI and Brent crude also gained in international markets. Read more about the oil price rise.
New Delhi, Dec 8 (PTI) Crude oil prices on Friday increased by Rs 109 to Rs 5,911 per barrel in futures trade as participants widened their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for December delivery traded higher by Rs 109 or 1.88 per cent at Rs 5,911 per barrel in 17,069 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude oil was up by 1.95 per cent to USD 70.69 per barrel, and Brent crude traded 2.03 per cent higher at USD 75.55 per barrel in New York.
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