Mumbai, June 1 -- Oil prices rallied nearly 4% on Monday, with Brent crude rising to around $94 per barrel and WTI climbing above $90, as renewed tensions in the Middle East reignited concerns over global supply risks. Market sentiment turned cautious after Israel expanded military operations in Lebanon, while uncertainty surrounding US-Iran ceasefire negotiations kept investors on edge. The dollar index also edged above 99, benefiting from increased demand for safe-haven assets amid the geopolitical uncertainty. MCX June crude oil futures were up more than 4% at Rs 8618 per barrel.
Published by HT Digital Content Services with permission from Capital Market....