Commodities
Crude Oil Futures Surge Amid Global Price Increases
Crude oil futures rose on Tuesday amid positive global trends, tracking increases in WTI and Brent crude prices. The Multi Commodity Exchange saw a significant gain of Rs 101, or 1.15 per cent, to Rs 8,861 per barrel for September delivery.
The rise in bets by participants kept crude oil prices higher in futures trade. Globally, West Texas Intermediate (WTI) and Brent crude also saw price increases, with WTI trading at USD 93.69 per barrel, up 2.42 per cent, and Brent crude at USD 98.33 per barrel in New York.
Analysts attributed the increase to positive global trends, which contributed to the rise in crude oil futures.