Energy Preview: Crude oil extends winning spree

Crude oil jumped sharply on Monday amid a flare-up in the conflict in the Persian Gulf and deepening uncertainty over the near-total shutdown of ship traffic through the Strait of Hormuz. West Texas Intermediate crude, the US benchmark, rose about 4 percent to settle at $106.42 a barrel. MCX Crude oil futures rose nearly 2% to Rs 9820 per barrel. Oil slipped modestly in Asian trades though.

Powered by Commodity Insights