Crude Oil Prices Rise on MCX Amid Middle East Geopolitical Tensions and Supply Concerns

Crude oil prices on India's MCX rebounded sharply amid ongoing geopolitical tensions in the Middle East, particularly around the Strait of Hormuz, a key global oil transit route. Prices rose over 3-4%, with futures reaching up to Rs 9,106 per barrel. Analysts highlight continued volatility due to supply disruption risks from the Iran-Israel-US conflict, though emergency oil releases and safe tanker passages have temporarily eased concerns. Market outlook remains cautiously bullish, with potential for further price increases if tensions persist.