Crude oil futures on the MCX dropped sharply to a nearly three-week low after renewed hopes of US-Iran negotiations eased concerns over supply disruptions from West Asia. Analysts said domestic and global crude prices will remain driven by geopolitical developments and shipping activity
Crude oil prices surged above $90 per barrel as escalating US-Iran tensions raised fears of supply disruptions through the Strait of Hormuz. Brent, WTI and MCX futures gained sharply amid military exchanges, shipping concerns and heightened geopolitical risks in the Middle East
