Crude Oil Futures Surge: Prices Climb by Rs 3 on Strong Spot Demand

Crude oil prices rose by Rs 3 to reach Rs 6,474 per barrel in futures trading on Monday as traders increased their positions in response to strong spot demand. On the Multi Commodity Exchange, crude oil for May delivery traded Rs 3 higher, or 0.05% at Rs 6,474 per barrel in 7,185 lots. Analysts attributed the increase in crude oil prices to the growing number of bets placed by traders in futures trading. Globally, West Texas Intermediate crude oil increased by 0.27% to reach USD 77.93 per barrel, while Brent crude traded 0.19% higher at USD 82.28 per barrel in New York