Mumbai, July 25 -- WTI Crude oil futures extended a sharp surge as the United States continued its strikes against Iran, with both nations firmly ruling out near-term diplomatic talks. As per reports, President Trump also threatened major military punishment against Iran and the Houthis. Escalating tensions in the Middle East stoke intense fears of widespread global oil supply disruptions. WTI crude oil futures broke above $90 per barrel to hit a 7-week high before easing. The counter still spiked around 10% for the week. MCX Crude oil futures topped Rs 9000 per barrel in tune with the firm global cues before witnessing a turnaround.
Meanwhile, EIA stated in a latest update that the US crude oil refinery inputs averaged 17.1 million barrel...