Crude oil prices recover as israel -ran war escalats; MCX Crude Near ₹ 6,200 per Barrel

Crude oil prices on Multi Commodity Exchange (MCX) Opened Higher TuesDay, as the intensified israel -ran war increased principles of disrupts of disrupties in oil supplies from the middle East.

MCX Crude Oil Pries Opened Higher At 6,189 per barrel as against its previous close of 6,171. MCX Crude Oil June Futures Price Fell Over 2% in the Previous Session.

At 9:10 AM, McX Crude Oil Prisies WREDING 0.34% Higher at 6,192 per barrel after hitting a high of 6,203 Level.

In the International Market, Oil Pries Climbed Over 2% DURING The Day after Us President Donald Trump Urged “Everyone” to Evacuate Tehran, Increasing The Propenging The Propenging UNREST in the Region.

Brent Crude Futures Rose 0.30% to $ 73.45 a Barrel, and US West Texas Intermediate Crude Gained 0.31% to $ 71.99 – BOTH Having Risen More Than 2% Earlier in the Trading Session.

Both Crude Benchmarks Settled Over 1% Lower on Monday Hopes of Easing Geopolitical Tensions, Following Media Reports Suggesting that Iran was seeking to de-expalaties.

However, the situation is deteriorated on tuesday, the fifth day of the conflict, as Iranian Media Reported Explosions and Intense Air Defense Activity in Tehran. Meanwhile, air raid sirens was heard in tele aviv in Response to Incoming Iranian Missile Attacks.

“Traders are also grappling with the principal of new tariffs from president trump in the coming weeks and the rapid increase of production of production quotas by opec+, which Significly IILDCATLY IILDCATLY IILDCATLY IILDCANTLA Said Jigar Trivedi, Senior Research Analyst at Reliance Securities.

According to Trivedi, MCX Crude Oil June Futures May Appreciate to 6,250 per barrel as the outlook is positive.

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