Commodities
Crude Oil Futures Soar on Global Demand Surge
Crude oil futures on the Multi Commodity Exchange (MCX) rose by Rs 204 to Rs 9,115 per barrel on Tuesday, following positive global trends for West Texas Intermediate and Brent crude.
The price increase was attributed to the rising demand for crude oil in various parts of the world. Analysts noted that the rise in bets by participants kept crude oil prices higher in futures trade.
Globally, West Texas Intermediate (WTI) crude was trading at USD 94.26 per barrel, up 1.79%, while Brent crude was higher by 1.99% at USD 107.37 per barrel in New York.