Crude Oil Futures Rise on Spot Demand
Crude oil futures surged on Monday, driven by increased spot demand. Prices climbed on the Multi Commodity Exchange and globally, with West Texas Intermediate and Brent crude also rising.
New Delhi, Sep 30 (PTI) Crude oil futures on Monday increased Rs 61 to Rs 5,755 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 61 or 1.07 per cent at Rs 5,755 per barrel in 18,014 lots.
Analysts said the raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude oil was up 0.47 per cent to USD 68.50 per barrel, and Brent crude traded 0.51 per cent higher at USD 72.35 per barrel in New York.
On the Multi Commodity Exchange, crude oil for October delivery traded higher Rs 61 or 1.07 per cent at Rs 5,755 per barrel in 18,014 lots.
Analysts said the raising of bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate crude oil was up 0.47 per cent to USD 68.50 per barrel, and Brent crude traded 0.51 per cent higher at USD 72.35 per barrel in New York.
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