Crude oil futures prices increased on Thursday due to strong spot demand. The price of crude oil on the Multi Commodity Exchange (MCX) rose by Rs 77 to Rs 5,858 per barrel.
New Delhi, Dec 14 (PTI) Crude oil prices on Thursday increased Rs 77 to Rs 5,858 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 77 or 1.33 per cent at Rs 5,858 per barrel in 9,273 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 0.71 per cent to USD 69.96 per barrel, and Brent crude traded 0.82 per cent higher at USD 74.87 per barrel in New York.
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