Crude Oil Futures Rise on Spot Demand - PTI
By Rediff Money Desk, New Delhi Sep 24, 2024 14:02
Crude oil futures prices surged on Tuesday, driven by increased spot demand. The rise was further fueled by participant speculation, pushing prices to Rs 5,993 per barrel on the MCX.
New Delhi, Sep 24 (PTI) Crude oil prices on Tuesday increased Rs 95 to Rs 5,993 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 95 or 1.61 per cent at Rs 5,993 per barrel in 12,977 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 1.49 per cent to USD 71.42 per barrel, and Brent crude traded 1.31 per cent higher at USD 74.87 per barrel in New York.
On the Multi Commodity Exchange, crude oil for October delivery traded higher Rs 95 or 1.61 per cent at Rs 5,993 per barrel in 12,977 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 1.49 per cent to USD 71.42 per barrel, and Brent crude traded 1.31 per cent higher at USD 74.87 per barrel in New York.
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Vodafone Idea L
- 8.07 (+ 2.28)
- 35207640
- Srestha Finvest
- 0.70 (+ 4.48)
- 24061961
- GTL Infrastructure
- 2.17 (+ 2.36)
- 15904253
- AvanceTechnologies
- 0.90 (+ 4.65)
- 11298242
- Standard Capital
- 1.09 ( -0.91)
- 9906223
MORE NEWS
L''T Acquires 21% Stake in E2E Networks for Rs...
L''T invests Rs 1,407 crore in E2E Networks, a cloud services company, acquiring a 21%...
NSE IX Sees Foreign Investor Growth on India's...
NSE IX, a multi-asset exchange in India, has witnessed a surge in foreign investor...
Apollo Green Energy IPO: Rs 10,000 Cr Project...
Apollo Green Energy (AGEL) plans to go public in 2025, aiming to build a Rs 10,000...