Crude oil futures rise 6.4% on MCX as supply fears persist
In short
Crude oil futures for November delivery rose ₹566, or 6.4%, on the Multi Commodity Exchange over the past week. They closed at ₹9,394 per barrel.
Analysts said prices may rise more next week because supply fears are still strong. The report does not say exactly what the relief measures are or what is causing the supply worries.
What the reporting says
Crude oil futures for November delivery on the Multi Commodity Exchange rose ₹566, or 6.4%, over the past week to close at ₹9,394 per barrel. Analysts said crude oil is likely to gain further next week as supply fears overshadow relief measures. The report gives the recent price move but does not state the specific relief measures or the source of the supply concerns.
Why it matters
Crude oil futures for November delivery on the Multi Commodity Exchange rose ₹566, or 6.4%, over the past week to ₹9,394 per barrel. Analysts in the report expect further gains next week because supply fears are outweighing relief measures. The source does not identify those measures or the underlying supply risks, so the near-term driver is only partially explained.