Crude oil futures traded higher on Monday morning as markets hoped that the US Federal Reserve will reduce interest rates at its meeting this week.
At 9.57 am on Monday, February Brent oil futures were at $63.86, up by 0.17 per cent, and January crude oil futures on WTI (West Texas Intermediate) were at $60.23, up by 0.25 per cent. December crude oil futures were trading at ₹5,435 on Multi Commodity Exchange (MCX) during the initial hour of trading on Monday against the previous close of ₹5,427, up by 0.15 per cent, and January futures were trading at ₹5,433 against the previous close of ₹5,421, up by 0.22 per cent.
A majority of market players expressed hopes that US Federal Reserve would reduce the interest rate by 25 basis points during its meeting scheduled on December 9 and 10. A reduction in interest rates is likely to provide a boost to the US economic activities. This, in turn, will help boost demand for commodities such as crude oil. US is one of the major consumers of crude oil.
Meanwhile, talks between US and Russia to end Ukraine war failed to reach an agreement last week. A fruitful outcome from the meeting would have helped lift US sanctions on Russian oil, helping increase supplies to the global markets.
Added to this, Ukraine continued to attack Russian oil infrastructure last week. This also helped support crude oil prices. Russia is one of the major producers of crude oil in the world market.
December natural gas futures were trading at ₹467.80 on MCX during the initial hour of trading on Monday against the previous close of ₹488, down by 4.14 per cent.
On the National Commodities and Derivatives Exchange (NCDEX), December cottonseed oilcake contracts were trading at ₹3,009 in the initial hour of trading on Monday against the previous close of ₹2,960, up by 1.66 per cent.
December dhaniya futures were trading at ₹10,684 on NCDEX in the initial hour of trading on Monday against the previous close of ₹10,814, down by 1.20 per cent.
Published on December 8, 2025
