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Commodities

Brent Crude Reaches $87.85 as Demand and Bets Drive Price Hike

Guavy AI Editorial Team
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Oil
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Crude oil prices surged on Friday, with Brent crude trading at $87.85 per barrel in New York. This represents a 0.90% increase from the previous day. On the Multi Commodity Exchange, crude oil for September delivery traded higher by Rs 44, or 0.57%, at Rs 7,808 per barrel in 3,491 lots.

The rise in prices can be attributed to increased bets by participants following firm spot demand. West Texas Intermediate crude was trading 1.29% higher at $82.30 per barrel globally.

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