Energy Preview: Crude oil futures surge past key resistance levels; Set for weekly gain of 12%
Mumbai, Sept. 11 -- Crude oil futures are seen holding steady in early Asian trades following a staggering rally witnessed in the previous session. Brent crude futures shot up more than 6% to above $107 mark while WTI futures gained 6.7% to cross $102 mark. Oil futures were boiling at its highest level since May driven by escalatory strikes between Iran and the US. Meanwhile, Saudi Arabia's oil production has fallen to its lowest this year after Iran-backed Houthi rebels in Yemen threatened shipments from the kingdom's west coast. Saudi Arabia told Opec it produced 6.2 million barrels a day in August, the lowest monthly figure in 2026 and 23 per cent lower than in July, according to a report published by the oil cartel on Thursday. Reports ...
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