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Crude Oil Futures Strengthen On Spot Demand

Analysts said raising of bets by participants kept crude prices higher in futures trade here.

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Crude oil prices rose by Rs 3 at Rs 3,855 per barrel on Wednesday as speculators created fresh positions on spot demand.

Analysts said raising of bets by participants kept crude prices higher in futures trade here.

On the Multi Commodity Exchange, crude for delivery in November traded higher by Rs 3, 0.08 per cent, at Rs 3,855 per barrel in 18,573 lots.

Crude oil for December was up by Rs 7, or 0.18 per cent, at Rs 3,872 per barrel in 212 lots.

Globally, West Texas Intermediate crude oil rose 1.51 per cent to USD 54.16 per barrel and Brent Crude slipped 0.39 per cent to USD 59.47 per barrel in New York.

(PTI)


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