India, June 2 -- Crude oil futures traded lower on Tuesday as investors remained cautious amid uncertainty surrounding ongoing US-Iran ceasefire discussions and broader geopolitical developments.
On the Multi Commodity Exchange of India, the most-active June crude oil contract declined Rs 39, or 0.45%, to Rs 8,697 per barrel, with a trading volume of 9,045 lots. The July contract also came under pressure, falling Rs 70, or 0.82%, to Rs 8,466 per barrel in a turnover of 2,512 lots.
The decline in domestic crude futures mirrored weakness in global oil benchmarks as traders assessed the evolving geopolitical landscape and its potential impact on oil supply, demand, and market sentiment. However, continued uncertainty in West Asia kept invest...