Crude gains more than 3% as volatile moves stay in place

WTI Crude oil futures are up modestly today after a meltdown in last session. Oil tanked around 10% after the US President Donald Trump postponed strikes against Iran's power plants for five days, citing what he said were productive conversations with Tehran to end the war. However, Iran responded by saying that there had been no direct talks. This led to a state of confusion in oil markets and the WTI Crude oil is currently up 3.50% at $91.23 per barrel. Oil is up around 36% for the month but is well under the four-year highs around $120 per barrel. MCX Crude oil futures are up 3.20% at Rs 8617 per barrel after testing lows around Rs 8400 per barrel in volatile trades.

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