Crude jumps 4% amid supply fears and geopolitical risks

WTI crude futures surged over 4% to above $98 per barrel, rebounding as escalating Middle East tensions raised fresh concerns over global supply. Renewed attacks by Iran on energy infrastructure and uncertainty around the Strait of Hormuz boosted safe-haven demand, lifting both oil and the US Dollar Index. The rebound follows a sharp drop in the previous session, when easing fears after tanker movements briefly calmed markets. However, continued geopolitical risks have kept investors on edge. Meanwhile, the Federal Reserve is expected to hold interest rates steady, with markets closely watching its outlook on rising energy prices and inflation. Domestically, MCX April crude futures climbed over 3% to ₹8945 per barrel, tracking global gains.

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