Crude oil futures rise amid fears of disruptions
India, May 16 -- Crude oil prices rose more than 3 per cent to Rs 10,073 per barrel in futures trade on Friday, tracking sharp gains in global benchmarks amid concerns over supply disruptions triggered by the US-Iran war.
On the Multi Commodity Exchange (MCX), crude oil for May delivery gained Rs 349, or 3.59 per cent, to Rs 10,073 per barrel in a business turnover of 9,898 lots.
Similarly, the July contract also advanced Rs 344, or 3.68 per cent, to Rs 9,694 per barrel in 9,315 lots.
Analysts said fears of tighter global supplies and continued disruptions around the Strait of Hormuz supported crude oil prices. Global benchmarks also rallied sharply, with Brent oil for the July contract gaining $3.54, or 3.35 per cent, to $109.26 per b...
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