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Commodities

Crude Oil Prices Surge Amid Global Market Trends

Guavy AI Editorial Team
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Oil
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Crude oil futures on the Multi Commodity Exchange surged by Rs 189 to Rs 8,923 per barrel on Wednesday due to positive global trends. This increase in prices was driven by the rise of West Texas Intermediate and Brent crude prices globally.

The trading activity took place with a business turnover of 5,969 lots for September delivery. Analysts noted that the rise in bets by participants kept crude oil prices higher in futures trade.

Globally, West Texas Intermediate crude was trading at USD 93.94 per barrel, up 0.98 per cent, while Brent crude was up 1.13 per cent at USD 98.03 per barrel in New York.

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