Oil prices rise after conflict in West Asia escalates
India, July 15 -- Crude oil futures rose to a one-month high of Rs 7,642 per barrel on Tuesday after the US military carried out a third consecutive round of strikes on Iran, heightening fears of supply disruptions through the Strait of Hormuz.
On the Multi Commodity Exchange (MCX), crude oil for July delivery climbed by Rs 282, or 3.83 per cent, to Rs 7,642 per barrel in a business turnover of 15,479 lots.
Similarly, the August contract has also advanced Rs 240, or 3.25 per cent, to Rs 7,634 per barrel in 7,739 lots.
Both contracts have rallied nearly 12 per cent in the past two sessions and are trading at their highest levels in about a month. MCX crude for July delivery hovered around these levels on June 15, when it traded at Rs 7,...
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