Crude Oil Futures Jump to Rs 5,844 Amid US-Iran Tensions, Supply Disruption Fears
Crude Oil Futures Jump to Rs 5,844 Amid US-Iran Tensions, Supply Disruption Fears
- •Crude oil futures rose Rs 44 to Rs 5,844 per barrel on Wednesday.
- •The surge is attributed to escalating geopolitical tensions between the US and Iran, raising concerns about potential supply disruptions.
- •On MCX, February delivery crude oil increased by 0.76% to Rs 5,844, while March contract rose 0.52% to Rs 5,838.
- •Internationally, WTI crude traded 0.56% higher at USD 64.32, and Brent crude rose 0.48% to USD 69.13.
- •Reports suggest the US might seize Iranian crude tankers and deploy naval assets if nuclear negotiations fail, adding a risk premium to oil prices.
