Crude Oil Futures Rise on Strong Spot Demand - PTI
Crude oil futures surged on the Multi Commodity Exchange, driven by increased demand and a bullish sentiment. Brent and WTI crude also saw gains in global markets.
New Delhi, Sep 9 (PTI) Crude oil prices on Monday increased Rs 47 to Rs 5,725 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 47 or 0.83 per cent at Rs 5,725 per barrel in 9,175 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 1.05 per cent to USD 68.38 per barrel, and Brent crude traded 0.99 per cent higher at USD 71.76 per barrel in New York.
On the Multi Commodity Exchange, crude oil for October delivery traded higher Rs 47 or 0.83 per cent at Rs 5,725 per barrel in 9,175 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 1.05 per cent to USD 68.38 per barrel, and Brent crude traded 0.99 per cent higher at USD 71.76 per barrel in New York.
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