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Commodities

Brent Crude Trades Near $100 Amid Escalating Middle East Tensions

Guavy AI Editorial Team
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Oil
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Crude oil futures fell by 2% on Friday as traders booked profits following the recent rally. The Brent crude price hovered around $100 per barrel, fueled by escalating geopolitical tensions in West Asia.

The Multi Commodity Exchange (MCX) saw crude for August delivery drop Rs 148, or 1.64%, to Rs 8,876 per barrel. The September contract also slipped Rs 154, or 1.79%, to Rs 8,426 per barrel in 2,125 lots.

According to traders, profit-booking capped gains after crude posted its strongest weekly rally in months on concerns over possible supply disruptions.

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