Crude Oil Futures Rise on West Asia Tensions

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Jun 08, 2026 13:54

Crude oil futures surged over 5% to Rs 8,850 per barrel on MCX. West Asia tensions, including Iran-Israel missile attacks, fueled the price hike.

Crude Oil Futures Rise on West Asia Tensions

Photograph: Dado Ruvic/Reuters

New Delhi, Jun 8 (PTI) Crude oil prices on Monday rose 5.09 per cent to Rs 8,850 per barrel in futures trade amid simmering tensions in West Asia as Iran and Israel engaged in fresh missile attacks.

On the Multi Commodity Exchange, crude oil for July delivery traded higher by Rs 429, or 5.09 per cent, at Rs 8,850 per barrel in 1,869 lots.

Analysts said the escalation of conflict in West Asia, with Iran firing missiles at Tel Aviv in retaliation for Israel's aggression in Lebanon, has kept crude oil prices higher in futures trade.

Globally, West Texas Intermediate crude was trading 4.54 per cent higher at USD 94.65 per barrel, while Brent crude rose 4.80 per cent to USD 97.56 per barrel in New York.

Source: PTI By Rediff Money Desk, New Delhi

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