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Commodities

Crude Oil Jumps 6% Amid US-Iran Tensions

Guavy AI Editorial Team
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Oil
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Crude oil prices have surged by 6.39 percent in the past week, causing concerns about fuel prices in India. Despite this increase, petrol and diesel prices remain unchanged for now. The last adjustment to fuel prices occurred on May 25, when oil companies raised petrol prices by Rs 2.61 per liter and diesel prices by Rs 2.71 per liter.

The US President Donald Trump's warning about imposing economic sanctions on nations that trade with Iran has impacted crude oil rates. On Friday, the price of West Texas Intermediate reached $87.06 per barrel, with Brent futures increasing by 6.39 percent and US crude rising by 5.66 percent.

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