Crude oil prices hit a record high after military attacks by US, Israel and Iran
Analysts fear a further rise in oil prices if disruptions escalate
Crude Oil Futures Hit Lifetime High Of Rs 6,596/Barrel
After US and Israeli attacks on Iran, and fears of further escalation in disruptions in West Asia has led to a sharp jump in crude oil prices. Crude oil futures rose to a record high of Rs. 6,596 per barrel amid rising geopolitical tensions
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Crude oil prices on Monday jumped Rs 504 to hit a lifetime high of Rs 6,596 per barrel in futures trade amid escalating tensions in the Middle East.
On the Multi Commodity Exchange, crude oil for April delivery traded higher by Rs 504, or 8.27 per cent, at Rs 6,596 per barrel in 10,530 lots.
Analysts said the escalating tensions in the Middle East kept crude oil prices higher in the futures market.
Globally, West Texas Intermediate crude was trading 5.55 per cent higher at USD 70.74 per barrel, while Brent crude rose 5.86 per cent to USD 77.14 per barrel in New York.
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