Mumbai, June 19 -- Crude oil prices climbed toward $77 per barrel on Friday after planned US-Iran talks in Switzerland were cancelled, reviving concerns over Middle East tensions and energy supply risks. The rebound followed a sharp weekly decline that saw international crude futures tumble nearly 10%, with prices briefly falling to $71.83 per barrel. However, gains remained limited as a stronger US dollar and growing expectations of further Federal Reserve rate hikes weighed on market sentiment. On the domestic front, MCX July crude oil futures advanced more than 2% to Rs 7,238 per barrel, tracking the recovery in global oil prices.
Published by HT Digital Content Services with permission from Capital Market....