India, Aug. 7 -- Crude oil futures rose 0.37 per cent to Rs 7,404 per barrel on Friday, supported by escalating geopolitical tensions in the Middle East.
On the Multi Commodity Exchange (MCX), August delivery contracts gained Rs 27 to Rs 7,404 per barrel, with an open interest of 13,250 lots. Market participants attributed the rise to increased uncertainty after Iran launched missiles at Tel Aviv in retaliation for Israel's military actions in Lebanon, boosting demand for crude oil futures.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....