MCX crude slips 0.6% to ₹5664 amid trade tensions

MCX crude oil futures for August delivery dropped 0.6% to ₹5664 per barrel on Tuesday, following a continued decline in global oil prices. WTI crude slid to nearly $65 per barrel, marking its third straight session of losses, as uncertainty over EU-US trade negotiations weighed on demand outlook. Investors are awaiting the outcome of talks before the August 1 tariff deadline set by President Trump. Meanwhile, JODI data revealed that Saudi Arabia?s crude exports climbed to a three-month high of 6.19 million bpd in May, rising by 25,000 bpd from April as the Kingdom drives OPEC+ output increases this summer.

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