Hot Commodities: WTI jumps 2% on bargain buying, up 1% on MCX

WTI crude futures climbed back above $65 per barrel on Wednesday, rising nearly 2% to $65.38 as bargain hunters stepped in after a sharp 13% drop earlier this week. The rebound was supported by signs that the US-brokered ceasefire between Iran and Israel is holding firm. On the supply side, US crude inventories fell by 4.28 million barrels last week?marking a fourth straight weekly draw?highlighting tightening fundamentals. MCX July oil futures also gained nearly 1%, trading at ₹5634 per barrel.

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