MCX Crude oil falters near Rs 9000 per barrel as WTI futures break under $100 mark

Crude oil tumbled sharply, with WTI crude falling by nearly 4% at $98 per barrel mark as hopes of de-escalation in the Middle East dampened risk premiums. Additional pressure came from a stronger US dollar, with the dollar index hovering near 99.3 after a solid monthly gain of over 2%, amid reduced expectations of Federal Reserve rate cuts. While Fed Chair Jerome Powell reassured markets on stable long-term inflation expectations, traders remained cautious ahead of President Trump?s upcoming address on Iran. A break under $100 per barrel mark is visibly leading to stress in oil. MCX April crude futures fell near Rs 9000 per barrel mark amid accelerated selloff in late morning trades and currently trade down 3.3% at Rs 9251 per barrel.

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