Crude Oil Futures Rise on Spot Demand - PTI
Aug 12, 2024 13:14
Crude oil futures prices in India surged by Rs 62 per barrel on Monday, driven by a strong spot demand and increased market bets. Read more on the price movement and global oil markets.
New Delhi, Aug 12 (PTI) Crude oil prices on Monday increased Rs 62 to Rs 6,506 per barrel in futures trade as participants widened their positions following a firm spot demand.
On the Multi Commodity Exchange, crude oil for August delivery traded higher Rs 62 or 0.96 per cent at Rs 6,506 per barrel in 10,400 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 0.82 per cent to USD 77.47 per barrel, and Brent crude traded 0.60 per cent higher at USD 80.14 per barrel in New York.
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