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Brent futures soar 2.5% to $97.01/bbl
In Short
Crude oil futures rise for the sixth consecutive session, hitting ₹8,592 per barrel on the MCX due to mounting US-Iran hostilities and global supply disruption fears.
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Brent futures soar 2.5% to $97.01/bbl
New Delhi: Rising for the sixth consecutive session, crude oil futures jumped nearly 1 per cent to Rs 8,592 per barrel on Wednesday amid renewed US-Iran hostilities, stoking fears of global energy supply disruptions.
On the Multi Commodity Exchange, crude oil futures for the September delivery rose by Rs 56, or 0.66 per cent, to Rs 8,592 per barrel.
The October contract also gained Rs 56, or 0.67 per cent, to Rs 8,391 per barrel. In global markets, Brent oil futures for November delivery rose for the third straight session, jumping by $2.36, or 2.5 per cent, to $97.01 per barrel on the Intercontinental Exchange (ICE).
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