India, Aug. 3 -- Crude oil futures witnessed a sharp decline on Monday, with MCX August crude oil futures falling over 6% to Rs 7,601 per barrel, hitting the lower circuit amid easing geopolitical tensions in West Asia.
The sell-off followed growing optimism over potential US-Iran talks, which reduced concerns over supply disruptions and weighed on global oil prices.
Meanwhile, the September crude oil contract also dropped 5.3% to Rs 7,424 per barrel, as broad-based selling pressure continued across the energy market.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....