Crude oil futures on the MCX gained on Thursday due to increased spot demand. West Texas Intermediate and Brent crude also rose in global markets.
New Delhi, Dec 7 (PTI) Crude oil prices on Thursday increased by Rs 16 to Rs 5,836 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 16 or 0.27 per cent at Rs 5,836 per barrel in 18,679 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 0.43 per cent to USD 69.68 per barrel, and Brent crude traded 0.48 per cent higher at USD 74.66 per barrel in New York.
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