Crude Oil Futures Drop Rs 190, Reaching Rs 8,808/Barrel

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Crude Oil Futures Slide Rs 190 Amid Iran Supply Hopes, Geopolitical Tensions Linger

Representational image (Image: News18)

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News18•20-03-2026, 14:45

Crude Oil Futures Slide Rs 190 Amid Iran Supply Hopes, Geopolitical Tensions Linger

•Crude oil futures dropped Rs 190 to Rs 8,808 per barrel on Friday, ending a three-day rally.
•The decline was driven by prospects of additional Iranian supply and hopes of softening geopolitical risk premium.
•US Treasury Secretary Scott Bessent suggested 140 million barrels of Iranian crude could re-enter the market.
•Israeli PM Netanyahu agreed to refrain from actions against Iranian gas fields at US request, indicating de-escalation efforts.
•Risks remain elevated due to the impassable Strait of Hormuz and Iran considering transit fees, adding uncertainty to global oil markets.

Read Full Article on News18 in English

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