Crude tanks as market eyes war talks, MCX futures see sharp fall in afternoon

WTI Crude oil futures extended losses as the counter broke under $90 per barrel. The US President Donald Trump said the US and Iran were in negotiations right now, pulling the counter down after a good rally in last session. WTI Crude is currently down 5% at $87.70 per barrel and is nearing two-week low. Risk appetite is back today with European equities witnessing a good bounce. MCX Crude oil are down in tune with global cues with a modest rise that took the counter near Rs 8400 per barrel in afternoon trades failing to sustain. The counter has lost 5.64% on the day and currently trades at Rs 8243 per barrel. This marks a very sharp reversal in last half hour of trade.

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