Global Tensions Ignite Rise in Crude Oil Prices

Crude oil prices surged on Monday, with a notable increase of Rs 96 to Rs 5,342 per barrel in the domestic futures market. This rise mirrors global trends, as renewed tensions between the US and China spark concerns over economic growth and supply chain stability.

On the Multi Commodity Exchange, October crude oil futures climbed by 1.83%, reaching a price of Rs 5,342 per barrel, amidst a notable business turnover of over 10,000 lots. November contracts saw a similar upward trend, increasing by Rs 70 to hit Rs 5,308 a barrel.

Globally, the markets witnessed a 1.88% rise in West Texas Intermediate crude, pricing at USD 60.01 per barrel, while Brent crude for December rose nearly 2% to USD 63.84. Experts attribute these fluctuations to possible renewed trade tensions, exacerbated by President Trump's tariff threats against China.

(With inputs from agencies.)