Crude oil futures gained on MCX as participants enlarged their positions on firm demand at domestic as well as overseas markets after an industry body reported a decline in crude oil inventories in the United States for the week ending November 22. Besides, weak dollar also supporting crude oil prices’ up-move. However some gains were limited as market assessing the potential impact of a ceasefire deal between Israel and Hezbollah, and ahead of Sunday's OPEC+ meeting.
The contract for December delivery was trading at Rs 5833.00, up by 0.99% or Rs 57.00 from its previous closing of Rs 5776.00. The open interest of the contract stood at 10593 lots.
The contract for January delivery was trading at Rs 5821.00, up by 0.99% or Rs 57.00 from its previous closing of Rs 5764.00. The open interest of the contract stood at 999 lots on MCX.
Source: Ace Equity
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