Oil Surges 4% on Reports of Explosions in Iran, Iraq, and Syria
19-Apr-24   14:36 Hrs IST
Crude oil futures rose over 4%, surpassing $85 per barrel on Friday. The increase followed reports of significant explosions in Iran, Iraq, and Syria, suspected to be Israeli attacks. While there was no direct acknowledgment of the strikes by Israel, tensions have escalated since Iran launched drones and missiles last weekend, targeting Israel. The International Atomic Energy Agency reported no damage to Iran's nuclear sites. MCX May expiry crude oil futures traded up Rs 7 at Rs 6,903, hitting a session high of Rs 7,067 per barrel.

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