Crude oil futures ended higher on Monday on optimism energy demand from China will see a significant increase. A report from the International Energy Agency (IEA) said about half of this year’s global oil demand growth will come from China. Further, reports about Saudi Arabia unexpectedly increasing the prices of oil that will be shipped to Asia contributed significantly to the positive close of the contract. Besides, oil prices were supported by concerns about supply following a major earthquake in Turkey forcing an oil terminal in Ceyhan to shut down.
Benchmark crude oil futures for March delivery rose $0.72 or 1 percent at $74.11 a barrel on the New York Mercantile Exchange. Brent crude for April delivery surged $1.28 or 1.6 percent at $81.22 (Provisional) a barrel on London's Intercontinental Exchange.
Start Research-backed Investing ...Now. Subscribe to Sapphire
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: