Crude oil futures rise as US-Iran tensions escalate
after close1 source ↓written by the desknot a recommendation
- increasing
- ₹105
- per barrel
- ₹7,689
- contract also rose
- ₹91
- per barrel
- ₹7,665
- July delivery rose
- 1.38%
Crude oil futures continued their upward trend, increasing ₹105 to ₹7,689 per barrel on the MCX, driven by escalating US military actions against Iran. The August contract also rose ₹91 to ₹7,665 per barrel. Traders are concerned about potential supply disruptions through the Strait of Hormuz, impacting global oil trade. ⚡
• Crude oil futures for July delivery rose 1.38%
• August contract increased 1.2%
• Brent oil futures gained USD 1.05 globally
These geopolitical tensions may sustain bullish sentiment in oil markets.
Not investment advice. For informational purposes only.