Brent Oil Futures Soar on US-Iran Tensions

Crude oil prices continue their upward trend on Wednesday, driven by renewed tensions between the US and Iran. On the Multi Commodity Exchange, crude oil futures for September delivery rose by Rs 56, or 0.66%, to Rs 8,592 per barrel. The October contract also gained Rs 56, or 0.67%, to Rs 8,391 per barrel.

In global markets, Brent oil futures for November delivery jumped $2.36, or 2.5%, to $97.01 per barrel on the Intercontinental Exchange (ICE). This marks the third consecutive session of gains for Brent futures.