Crude Oil Futures Rise on Spot Demand

Oct 07, 2024 16:21

Crude oil futures rose on Monday due to strong spot demand, with prices increasing by Rs 67 to Rs 6,406 per barrel. Analysts attribute the rise to increased bets by participants. Global crude oil prices also saw gains.

New Delhi, Oct 7 (PTI) Crude oil futures on Monday grew Rs 67 to Rs 6,406 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 by Rs 67 or 1.06 per cent at Rs 6,406 per barrel in 14,534 lots.

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

Globally, West Texas Intermediate crude was trading 2.70 per cent higher at USD 76.39 per barrel, while Brent crude was trading 2.40 per cent up at USD 79.92 per barrel in New York.

Source: PTI

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Crude Oil Futures Rise on Spot Demand

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