Thursday, Apr 18, 2024 | Last Update : 05:55 AM IST
Crude oil futures up on global cues
Analysts said raising of bets by participants mainly kept crude prices to trade higher.
New Delhi: Crude oil prices rose 9.14 per cent to Rs 4,273 per barrel on Monday as speculators created fresh positions on firm global cues.
Analysts said raising of bets by participants mainly kept crude prices to trade higher.
On the Multi Commodity Exchange, crude for delivery in September contracts was trading higher by Rs 358, or 9.14 per cent to Rs 4,273 barrel in 51,535 lots.
Crude oil prices witnessed a sharp spike following the weekend drone attack on Saudi Arabian oil facilities, cutting global energy supplies and reportedly halving the kingdom's production.
The West Texas Intermediate was trading higher by 9.43 per cent to USD 60.02. Meanwhile, Brent crude, the international benchmark rose 10.74 per cent to USD 66.69 per barrel in New York.
