Indian Crude Oil Futures Soar on Global Price Hikes
Crude oil futures in India saw a significant surge on Monday, rising by Rs 237 to reach Rs 9,085 per barrel. This increase was driven by positive global trends, with West Texas Intermediate (WTI) crude and Brent crude also seeing price hikes.
Globally, WTI crude is trading at USD 94.26 per barrel, up 2.00% from previous levels. Meanwhile, Brent crude has risen to USD 107.48 per barrel, a 3.03% increase.
On the Multi Commodity Exchange, crude oil futures for October delivery saw a business turnover of 7,151 lots. Analysts attribute the rise in prices to increased bets by participants in the market.