US-Iran war, March 11 -- Crude oil prices on Multi Commodity Exchange (MCX) rose as much as 4% to Rs.7,718 per barrel on Wednesday, March 11, despite a fall in Brent crude prices.

On the international front, Brent crude prices slipped 0.26% to $87.57 per barrel, while West Texas Intermediate (WTI) crude futures dropped 0.44% to $83.08 on Wednesday, extending their fall after an over 11% decline in overnight trade.

The decline follows reports that the International Energy Agency (IEA) has proposed the largest release of oil reserves in its history to ease crude prices, which had surged amid the US-Iran conflict.

Oil prices dropped had declined in the last trade as markets reacted to rapidly changing statements from the Trump administrat...