Crude oil futures decline as supply fears ease
after close1 source ↓written by the desknot a recommendation
- futures fell
- ₹80
- per barrel
- ₹6,589
- decline
- 1.2%
- ₹76
- per barrel
- ₹6,587
Crude oil futures fell by ₹80 to ₹6,589 per barrel, marking a 1.2% decline, as optimism over a potential US-Iran agreement eases supply concerns. This drop extends the decline for the fourth consecutive session, with the August contract also down by ₹76 to ₹6,587 per barrel. Analysts suggest that improved prospects for Iranian crude exports may stabilize global oil supply.
• July contract: ₹6,589 per barrel
• August contract: ₹6,587 per barrel
• Business turnover: 5,847 lots on MCX
Not investment advice. For informational purposes only.