Crude Oil Futures Rise on Spot Demand

Dec 24, 2024 12:52

Crude oil futures climbed on Tuesday, driven by increased positions and strong spot demand. Prices rose Rs 39 to Rs 5,940 per barrel on the Multi Commodity Exchange. Global crude prices also saw gains.

New Delhi, Dec 24 (PTI) Crude oil prices on Tuesday climbed Rs 39 to Rs 5,940 per barrel in futures trade as participants increased their positions following a firm spot demand.

On the Multi Commodity Exchange, crude oil for January delivery traded higher Rs 39 or 0.66 per cent at Rs 5,940 per barrel in 7,836 lots.

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

Globally, West Texas Intermediate crude was trading 0.43 per cent higher at USD 69.54 per barrel while Brent crude was trading 0.48 per cent higher at USD 72.98 per barrel in New York.

Source: PTI

MORE NEWS

TCS Appoints Sudeep Kunnumal as Chief HR Officer

TCS announced Sudeep Kunnumal as the new Chief Human Resources Officer, succeeding...

ICAI to Review IndusInd Bank Financials Amid...

The ICAI may review IndusInd Bank's financial statements after discrepancies in...

India Assures Exporters Protection Amid US...

India's commerce ministry has assured exporters of protection against US tariff...

HDFC Mutual Fund Increases IndusInd Bank Stake...

HDFC Mutual Fund has increased its stake in IndusInd Bank to over 5%, buying 15.92 lakh...

TN Budget 2025-26: Thangam Thennarasu to...

Tamil Nadu Finance Minister Thangam Thennarasu will present the fifth Budget of the DMK...

Starlink India Tie-Ups: Satcom Complementing...

Citi report analyzes Starlink's tie-ups with Jio and Bharti, suggesting satcom services...

SpiceJet Promoter Sells 1% Stake for Rs 52 Crore

Ajay Singh, SpiceJet's MD, has sold nearly 1% stake in the budget airline for Rs 52...

LG Electronics India IPO Approved by Sebi - Rs...

LG Electronics India gets Sebi's nod to float a Rs 15,000 crore IPO, marking the second...

Patanjali, DS Group Acquire Magma General...

Patanjali Ayurved and DS Group will acquire Magma General Insurance from Sanoti...

Canara Bank to Raise Rs 4,000 cr via Tier II Bonds

Canara Bank proposes to raise up to Rs 4,000 crore through Basel III compliant Tier II...

Crude Oil Futures Rise on Spot Demand

You May Like To Read

MORE NEWS