Mumbai, March 4 -- WTI Crude oil futures soared near eight-month high as the flare up in geopolitical worries weighed on the sentiments. The counter currently trades up 1.80% at $75.90 per barrel. The US Crude oil futures zoomed near $78 per barrel in last session and is up around 13% this week. Market is eying the unease in Middle-ease as the US and Israel launched joint attacks on Iran. The country pumps about 3.3 million bpd, or about 3% of global output, but has strategic importance due to its location along the Strait of Hormuz. However, OPEC+ raised its crude production levels which will kick in from April and could cap the oil prices after latest spike.
Published by HT Digital Content Services with permission from Capital Market....