New Delhi, Apr 20 (BNP): Crude oil prices witnessed a sharp rise in futures trading on Monday, supported by firm spot demand and increased participation from market players.
On the Multi Commodity Exchange of India, crude oil futures for May delivery rose significantly, reflecting strong buying momentum in the market. The upward movement was driven by fresh positions built by traders amid steady demand conditions in the spot market.
Market analysts noted that the increase in open interest indicated renewed confidence among participants, contributing to the sustained strength in prices during the trading session.
The rally in crude oil futures highlights the influence of underlying demand trends and trader sentiment on commodity markets, as energy prices continue to respond to both domestic and global factors.
Overall, the session reflected a positive bias in crude oil trading, with demand-side support playing a key role in price movement.
