India, June 1 -- Crude oil prices witnessed a sharp rebound in futures trade on Monday, rising more than 3 per cent as renewed military exchanges between the United States and Iran reignited concerns over potential supply disruptions in the West Asian region.
On the Multi Commodity Exchange (MCX), the most-active June crude oil contract surged by Rs 255, or 3.08 per cent, to Rs 8,536 per barrel. The contract had settled at Rs 8,281 per barrel in the previous session.
The rally helped crude oil snap a three-session losing streak, with traders closely monitoring geopolitical developments that could impact global energy supplies and market sentiment.
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