Crude Oil Futures Rise on Spot Demand

Sep 17, 2024 13:21

Crude oil futures prices increased on Tuesday due to firm spot demand, with West Texas Intermediate and Brent crude also trading higher globally.

New Delhi, Sep 17 (PTI) Crude oil prices on Tuesday increased Rs 14 to Rs 5,833 per barrel in futures trade as participants widened their positions following a firm spot demand.

On the Multi Commodity Exchange, crude oil for October delivery traded higher Rs 14 or 0.24 per cent at Rs 5,833 per barrel in 12,316 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 0.50 per cent to USD 70.44 per barrel, and Brent crude traded 0.25 per cent higher at USD 72.93 per barrel in New York.

Source: PTI

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Crude Oil Futures Rise on Spot Demand

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