Crude oil futures gain on spot demand

Crude oil prices on Monday rose by Rs 55 to Rs 6,603 per barrel in futures trade as participants increased their positions following a firm spot demand. On the Multi Commodity Exchange, crude oil for December delivery traded higher by Rs 55 or 0.84 per cent at Rs 6,603 per barrel in 9,888 lots.

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

Globally, West Texas Intermediate crude oil was up 0.10 per cent at USD 80.06 per barrel, and Brent crude traded 0.13 per cent higher at USD 85.68 per barrel in New York.

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