COMMODITY
Crude oil futures rise on firm demand
Oct-18-2024
Crude oil futures rose on MCX as participants enlarged their positions on firm demand after an industry report showed a decrease in the US inventories last week, while improvement in Chinese economy also boosted crude oil prices globally. Moreover, ongoing tensions in West Asia and concerns about its impact on crude oil supplies have also supported crude oil prices’ uptrend.

The contract for October delivery was trading at Rs 5971.00, up by 1.25% or Rs 74.00 from its previous closing of Rs 5897.00. The open interest of the contract stood at 5941 lots.

The contract for November delivery was trading at Rs 5955.00, up by 1.33% or Rs 78.00 from its previous closing of Rs 5877.00. The open interest of the contract stood at 12831 lots on MCX.
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