Crude Oil Futures Rise on Strong Spot Demand - PTI
By Rediff Money Desk, New Delhi Sep 09, 2024 13:21
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.
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
- 10.67 (+ 2.50)
- 69776634
- Spicejet Ltd.
- 58.71 ( -5.06)
- 51299261
- Standard Capital
- 1.52 (+ 9.35)
- 46654145
- GACM Technologies
- 0.95 ( -5.00)
- 28597471
- GTL Infrastructure
- 2.53 (+ 4.98)
- 19162474
MORE NEWS
India Should Exempt High-Value Timber From...
The Economic Advisory Council to the PM suggests exempting high-value native timber...
Textile Sector to Create 6 Cr Jobs by 2030:...
India aims to create 4.5-6 crore jobs in the textile sector by 2030, with a target of...
TIGA Investments Acquires Stake in Dream11: CCI...
Singapore-based TIGA Investments gets CCI clearance to acquire a stake in Dream11's...