Crude oil futures on the MCX fell nearly 8 per cent as easing geopolitical tensions between the US and Iran triggered a sharp decline in global oil prices. Analysts, however, warned that risks to oil supplies remain due to continued regional security concerns
Crude oil futures declined by Rs 63 to Rs 6,901 per barrel on the Multi Commodity Exchange amid weak global trends. Analysts attributed the fall to profit-booking and weak spot demand, while benchmark international crude prices also traded lower
Crude oil futures rose by Rs 29 on the Multi Commodity Exchange as traders increased positions amid firm spot demand. Global crude benchmarks, including Brent and West Texas Intermediate, also traded higher during Wednesday’s session, supporting the positive trend in domestic futures markets
