MCX Evening Update: Crude stays under intense pressure, futures near Rs 8600 mark

MCX Crude oil futures extended a massive correction in evening trades. Oil tumbled around 20% in global markets as Hormuz reopening news weighed heavily on sentiments and triggered a massive drop in the counter after break under $100 per barrel for WTI futures. The local futures fell near Rs 8600 per barrel and currently trade at Rs 8625 per barrel, down 19.16% on the day.

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