Crude Oil Futures Rise Amid West Asia Crisis & Spot Demand

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Jul 03, 2026 13:28

Crude oil futures surged on July 3, driven by strong spot demand and escalating tensions from the West Asia crisis, including Iran-Israel conflict.

Crude Oil Futures Rise Amid West Asia Crisis & Spot Demand

New Delhi, Jul 3 (PTI) Crude oil prices on Friday rose 0.81 per cent to Rs 6,593 per barrel in futures trade amid uncertainties arising from the West Asia crisis.

On the Multi Commodity Exchange, crude oil for July delivery traded higher by Rs 53, or 0.81 per cent, at Rs 6,593 per barrel in 4,663 lots.

Analysts said with Iran firing missiles at Tel Aviv in retaliation for Israel's aggression in Lebanon, crude oil prices moved up in futures trade.

Globally, West Texas Intermediate crude was trading 0.42 per cent higher at USD 68.98 per barrel, while Brent crude rose 0.53 per cent to USD 72.18 per barrel in New York.

Source: PTI By Rediff Money Desk, New Delhi

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